Equity Committee Pushes For New Tronox DIP Package

Law360, New York (October 27, 2009, 4:08 PM EDT) -- A group of creditors has asked the judge overseeing Tronox Inc.'s bankruptcy proceedings to force the chemical company to accept an alternative debtor-in-possession financing plan they say would delay sale proceedings and potentially provide more return for creditors.

In a motion to compel filed Friday in the U.S. Bankruptcy Court for the Southern District of New York, the seven-member equity committee said its financial advisers had presented an alternative DIP financing facility from an unnamed “nationally recognized lender” to Tronox.

The new lending package would give...
To view the full article, register now.