Judge OKs Chemtura's $38M Fund For Enviro Claims

Law360, New York (September 27, 2010, 3:21 PM EDT) -- A bankruptcy judge has cleared the creation of a $37.6 million reserve fund for Chemtura Corp. to use on environmental cleanup costs that increases the payouts for claims in New Jersey and California, as well as a $6.9 million fund to pay out diacetyl claims.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York on Friday approved Chemtura counsel M. Natasha Labovitz of Kirkland & Ellis LLP's Sept. 3 motion seeking the creation of the fund, taking into account...
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