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Solutia Seeks 11th Exclusivity Extension

Law360 (April 23, 2007, 12:00 AM EDT) -- Specialty chemical company Solutia Inc. filed its eleventh motion Friday to extend its exclusive period to file a reorganization plan despite opposition from noteholders who say the company has squandered three-and-a-half years of exclusivity.

Solutia said it has used its exclusive periods to bring its stakeholders together for “meaningful negotiations,” including a meeting that was scheduled on Monday.

“As a result of Solutia’s good faith efforts to attempt to bring its stakeholders together to reach a consensus on the terms of a modified plan and Solutia’s...
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