Aleris, J. Aron Settle $59M In Bankruptcy Claims

Law360, New York (January 11, 2011, 12:39 PM EST) -- A federal judge has signed off on a $59 million settlement agreement between bankrupt aluminum company Aleris International Inc. and secured creditor J. Aron & Co., resolving outstanding claims over interest rate swaps and a series of commodities hedging transactions.

In an order Monday, Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware approved the agreement, which inches Aleris closer to concluding its nearly two-year-old Chapter 11 case.

The court gave its blessing to Aleris' reorganization plan in mid-May, and the...
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