Solutia, Committees Spar Over Environmental Liabilities

Law360, New York (September 13, 2006, 12:00 AM EDT) -- Bankrupt chemical products maker Solutia Inc. has joined with its unsecured creditors committee in objecting to a proposed order that would stop the company from staying an adversary proceeding against Solutia’s former parent company.

The objection, filed Tuesday, marks the latest development in a bitter battle over the distribution of environmental legacy liabilities between Solutia, Monsanto Co. and Pharmacia Corp.

Solutia was spun off from Monsanto in 1997, and Monsanto changed its name to Pharmacia following a merger in 2000. In 2002, a new version of...
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