We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Equity Committee Wants To End Solutia's Exclusivity

Law360 (April 12, 2007, 12:00 AM EDT) -- Troubled chemical company Solutia Inc.’s bankruptcy has become “stagnant” and its exclusivity period over its Chapter 11 plan should end, according to the official committee for equity holders.

On Wednesday, the committee asked the court to terminate Solutia’s exclusive period in order to protect shareholders from “being held hostage by a plan that…will inevitably undervalue [Solutia’s] enterprise in order for [Solutia’s] unsecured creditors to realize a windfall after emergence from Chapter 11.”

“Despite the fact that the debtors have enjoyed an exclusive period of almost four...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.