Realogy haunted by Cendant's past

Flickr image by redjar.

More than three years after being spun off as an independent company, Realogy Corp. remains saddled by an agreement to cover the lion's share of some unresolved liabilities of its former parent, Cendant Corp., including legal judgments and a potential $476 million back-tax bill.

In a regulatory filing detailing the company's second-quarter results, Realogy said it recently paid $62 million of a $98 million legal judgment against Cendant, as required by separation and distribution agreements between Cendant and three companies it spun off in 2006.

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