Solutia Asks Judge To Approve Pact With Monsanto

Law360, New York (July 2, 2007, 12:00 AM EDT) -- Solutia Inc. has asked the court overseeing its Chapter 11 proceedings to sign off on two settlement deals the bankrupt chemical products maker says are integral to shedding legacy liabilities and paving the way to a successful restructuring of the company, which has been under bankruptcy protection since December 2003.

Friday, Solutia filed a motion seeking court approval of two settlements, one between Solutia and Monsanto Co.—the company from which Solutia spun off in 1997—and between Solutia and its retirees.

The Monsanto pact, if approved, would...
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