Insurers Say Chemtura Plan Is Unfair To Them

Law360, New York (September 14, 2010, 5:23 PM EDT) -- A group of insurers has objected to Chemtura Corp.'s plan of reorganization, alleging the current version would improperly make it harder for the insurers to defend themselves against the beleaguered chemical company's coverage claims.

The objection — filed Monday in the U.S. Bankruptcy Court for the Southern District of New York — argues that the current proposed plan is not "insurance neutral" and would give Chemtura an advantage in litigation against its insurers.

The insurers, known as the Ace group, issued several primary, excess and umbrella...
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