Bankruptcy Court Approves Almatis Ch. 11 Plan

Law360, New York (September 20, 2010, 4:16 PM EDT) -- A federal judge on Monday confirmed Almatis BV's Chapter 11 plan, paving the way for the German aluminum products company to emerge from bankruptcy protection.

Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York signed an order confirming the company's first amended plan of reorganization Monday, a month after approving the company's disclosure statement and a settlement with would-be buyer Oaktree Capital Management LP.

Under the terms of the reorganization, Dubai International has agreed to provide the troubled aluminum producer...
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