Solutia Wins Six-Month Extension On Chapter 11 Plan
By Catherine Fredenburgh
Law360, New York (April 27, 2006, 12:00 AM EDT) -- Solutia Inc., a maker of glass products, nylon and other specialty products, was granted a six-month extension of its exclusive right to file a Chapter 11 plan on Thursday. The decision will help the company stave off the threat of a group of noteholders filing a rival plan.
Judge Prudence Carter Beatty of the U.S. Bankruptcy Court in Manhattan extended Solutia’s sole right to file a plan to Oct. 10 from April 25. The deadline to lobby for creditor’s support for the reorganization plan was also...