Creditors Skeptical As Solutia Seeks Ninth Extension

Law360, New York (November 9, 2006, 12:00 AM EST) -- The official equity committee in bankrupt chemical products maker Solutia Inc.’s Chapter 11 case has filed court papers to reserve its right to move to terminate Solutia’s ninth extension of the debtors’ exclusive periods to file and solicit support for a reorganization plan.

The equity committee remains skeptical of Solutia’s claim that it will work alongside creditors to establish a new plan as long as no competing plans are filed, the committee said in its reservation of rights, signed on Monday. But despite the equity committee’s...
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