Creditors of chemical maker Tronox are suing the banks that arranged the company's spinoff from Kerr-McGee in 2006 for "fraudulent transfer," claiming the deal was structured to allow Kerr-McGee to saddle Tronox with hundreds of environmental, tort claim, retiree and other legacy liabilities. The suit also claims the spinoff left Tronox without some of its most important assets and "without sufficient assets to pay its existing debts."

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