Tronox Rolls Out Stand-Alone Reorganization Plan

Law360, New York (December 22, 2009, 5:31 PM EST) -- Tronox Inc. has proposed a Chapter 11 plan under which the chemical company would reorganize rather than sell off its assets, pay $115 million as part of a deal to resolve its environmental liabilities, obtain a new $425 million debtor-in-possession facility, and get a $105 million equity infusion from bondholders.

Tronox said in a motion filed Sunday in the U.S. Bankruptcy Court for the Southern District of New York that while it had explored selling substantially all its operating assets, it had recently met two key...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.