Tronox Shareholders Drop Competing Ch. 11 Plan

Law360, New York (September 30, 2010, 4:28 PM EDT) -- A committee of equity holders in Tronox Inc.'s bankruptcy has dropped a competing reorganization proposal in the case, agreeing instead to work out its differences with the debtor as the chemical company moves forward with its own plan.

Judge Allan L. Gropper announced the equity committee’s decision during a hearing Thursday in the U.S. Bankruptcy Court for the Southern District of New York, following a round of private in-chambers discussions with attorneys in the case.

The judge further said he would allow the debtor to make...
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