Settlement lodged on 4/3/2014 to put the stipulations laid out in the 2011 Bankruptcy into place.
The Tronox reorganization and bankruptcy settlement became effective February 14, 2011 as the U.S. Bankruptcy Court for the Southern District of New York, approved six Environmental Response Trust Agreements (including the West Chicago Trust) and the Anadarko Litigation Trust Agreement (Litigation Trust) described in the consent decree and bankruptcy settlement agreement approved by the Court on January 26, 2011 (Settlement Agreement). Under the Settlement Agreement, Tronox provided: (1) $270 million in cash; (2) certain assets in Nevada; (3) more than $50 million worth of insurance and financial assurance assets; and (4) 88% of Tronox's interest in the Anadarko Litigation to environmental and tort claimants. The West Chicago Trust will fund the remaining cleanup of the Kerr-McGee West Chicago NPL sites in West Chicago and DuPage County, Illinois. The Settlement Agreement also partially funds several EPA special accounts for continuing cleanups at the Region 5 Lindsay Light, Moss-American and Toledo Tie CERCLA sites. In addition, EPA is the primary governmental beneficiary of the Litigation Trust that is pursuing Tronox?s fraud claims against Anadarko. Other federal agencies, states, tribes, and tort litigants are also beneficiaries of the Litigation Trust.