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Chemtura Can Alter Former Execs' Benefits: Judge

Law360 (April 11, 2011, 4:32 PM EDT) -- A New York bankruptcy judge on Friday gave Chemtura Corp. permission to terminate or modify some of its former executives' medical and dental benefits, finding the company had reserved the right to alter its post-employment plans.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York mostly rejected the objections of six former Chemtura executives who claimed the company's senior executives benefits plans exempted them from the provision for later changes or termination.

"For the most part, the objecting executives...
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