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Settlement Documents: Anadarko Fraudulent Conveyance Litigation

On November 10, 2014, the U.S. District Court for the Southern District of New York (SDNY) approved the historic settlement agreement that was announced by EPA and the Department of Justice (DOJ) on April 3, 2014, resolving fraudulent conveyance claims against Kerr-McGee Corporation and related subsidiaries of Anadarko Petroleum Corporation. The deadline for any appeals from the district court's decision passed on January 20, 2015, without any appeal being filed. The settlement went into effect on January 21, 2015.

Under the settlement, Anadarko paid $5.15 billion plus interest to a litigation trust so that the settlement proceeds could be distributed to the trust’s environmental and tort beneficiaries. More information is available from the case summary on the settlement agreement associated with the Anadarko fraudulent conveyance litigation.

Documents associated with the historic settlement include (1) the 4/3/2014 settlement agreement (as corrected April 9, 2014 to reflect minor typographical and other errors); (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; and (3) the U.S. District Court (SDNY) Opinion and Order dated November 10, 2014.

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