Tronox, Creditors Reach Deal With Lenders

Law360, New York (February 3, 2010, 1:52 PM EST) -- Tronox Inc. has asked a bankruptcy judge to approve a settlement with unsecured creditors and Credit Suisse, the agent for the company's lenders, that Tronox says is key to moving forward with its reorganization.

Under the settlement, $5 million currently being held in escrow by Tronox's lenders would be released to the chemical company and distributed to its creditors upon exiting Chapter 11 bankruptcy protection, according to the motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York.

The unsecured creditors...
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