Chemtura Puts Diacetyl Claims To Rest For $50M

Law360, New York (August 23, 2010, 1:21 PM EDT) -- A judge has largely closed the book on outstanding respiratory disease claims against bankrupt Chemtura Corp. over buttered popcorn flavoring component diacetyl, signing off on a $50 million settlement.

Judge Robert E. Gerber approved the settlement during a hearing Monday in the U.S. Bankruptcy Court for the Southern District of New York, allowing the company to settle an estimated $150 million in claims for a third of the cost.

The claims settled represent roughly 90 percent of all diacetyl claims against the company.

Judge Gerber said...
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