Dow Corning Settles 22-Year Interest Fight With $172M Payout

Law360 (August 21, 2019, 8:43 PM EDT) -- Former silicone breast implant maker Dow Corning Corporation proposed a settlement Wednesday in Michigan bankruptcy court that resolves a two-decade fight over loan interest rates with a group of prepetition lenders, saying it will pay $172 million to the banks.

A lab technician oversees a nuclear magnetic resonance spectroscopy instrument at Dow Corning, which reached a deal Wednesday to resolve a 22-year-old fight with a group of lenders. (AP) In a motion filed by the reorganized debtor, Dow Corning said it will make the payments to end the 22-year fight in which a group of bank lenders asserted they were entitled to more...

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