Solutia Creditors Seek To Force Mediation

Law360, New York (February 15, 2007, 12:00 AM EST) -- The unsecured creditors committee in Solutia Inc.’s drawn-out Chapter 11 case has filed a motion to force the chemical company and its bondholders to mediate over the status of a $450 million claim.

The motion, filed Feb. 14 in the Southern District of New York, would require a 30-day mediation in exchange for extending Solutia’s exclusive period for filing a reorganization plan.

The sought-after mediation would include Solutia’s former parent company, Monsanto Co. as well as the ad hoc trade committee in the proceedings, according to...
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