Almatis Wins Green Light For Dubai Financing Pitch

Law360, New York (August 3, 2010, 5:36 PM EDT) -- Aluminum component producer Almatis BV can move forward with nearly $700 million in financing commitments as part of a Chapter 11 exit proposal advanced by the company's largest shareholder, Dubai International Capital.

Judge Martin Glenn approved the plan support arrangement in a hearing Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, setting a disclosure statement hearing date of Aug. 23.

The approval of the new agreement may signal an end to the long-running dispute between Dubai International and fellow investor Oaktree...
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