Oaktree Deal Clears Way For Almatis Ch. 11 Exit

Law360, New York (August 23, 2010, 4:46 PM EDT) -- A judge overseeing the bankruptcy of Almatis BV has signed off on a settlement with scorned would-be buyer Oaktree Capital Management LP and put the aluminum producer's restructuring plan on track for approval.

Judge Martin Glenn issued rulings Monday in the U.S. Bankruptcy Court for the Southern District of New York approving a disclosure statement for Almatis' Chapter 11 restructuring plan and a settlement with Oaktree.

The settlement terms with Oaktree, which purchased Almatis debt as part of a plan to wrest control of the company...
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