Chemtura Dodges $9B Environmental Claim

Law360, New York (April 8, 2010, 4:28 PM EDT) -- A bankruptcy judge has reportedly nixed a $9 billion claim filed against Chemtura Corp. by a California group devoted to researching toxic substances, handing a victory to the chemical company and its creditors.

Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York ruled during a hearing Wednesday that the Council for Education and Research on Toxins lacked standing to make a claim in the chemical maker's bankruptcy, an attorney for the debtor told Reuters on Thursday.

The court accepted Chemtura's...
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