Almatis Preps New Plan Support Deal With Lenders

Law360, New York (July 26, 2010, 1:13 PM EDT) -- Bankrupt alumina producer Almatis BV has asked a judge to sign off on a new Chapter 11 plan support agreement that would use nearly $700 million in new commitments to completely satisfy its senior lenders and pacify the junior lenders who vigorously opposed the company's previous plan.

Almatis filed a motion Friday in the U.S. Bankruptcy Court for the Southern District of New York to approve the new agreement, providing that its senior lenders would receive full payment on their approximately $676 million in claims plus...
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