Court Approves $3M Chemtura, Solvay Settlement

Law360, New York (August 18, 2009, 7:20 PM EDT) -- The judge overseeing Chemtura Corp.'s Chapter 11 proceedings has approved a $3 million settlement pact between Solvay SA and Chemtura under which the latter will drop its hydrogen peroxide price-fixing action against Solvay.

On Monday, Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York signed off on an order giving Chemtura a green light to enter into the settlement, assume a supply agreement to obtain hydrogen peroxide from Solvay and pay Duane Morris LLP (Chemtura's conflicts counsel) about $600,000 in...
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