Chemtura Retirees Win Surpise Reprieve

Law360, New York (April 22, 2010, 2:03 PM EDT) -- In a dramatic turnaround, the federal judge overseeing Chemtura Corp.’s bankruptcy has granted a stay to hundreds of Uniroyal Inc. retirees facing the loss of their health insurance and suggested that the class of retirees, who contend that their benefits are vested, may not need to rely on an appeal to get their day in court.

On Wednesday, Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York admitted that he made a mistake when denying the stay and ordered...
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.