Enforcement

Settlement Documents: Anadarko Fraudulent Conveyance Litigation

On April 3, 2014, EPA and the Department of Justice (DOJ) announced an agreement to resolve fraudulent conveyance claims against Kerr-McGee Corporation and related subsidiaries of Anadarko Petroleum Corporation. Under the settlement, Anadarko will pay $5.15 billion to a litigation trust so that the settlement proceeds can be distributed to the trust’s environmental and tort beneficiaries. Case summary on settlement agreement associated with Anadarko fraudulent conveyance litigation.

Documents associated with the settlement include (1) the 4/3/2014 settlement agreement (as corrected April 9, 2014 to reflect minor typographical and other errors); and (2) exhibit 2 of the 2011 Tronox bankruptcy settlement agreement that lists the bankruptcy cash funding and litigation percentages for the environmental response trusts and affected sites.

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