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Solutia Creditor Balks At Disclosure Statement

Law360 (June 27, 2007, 12:00 AM EDT) -- Two Solutia Inc. employees have objected to the chemical company's disclosure statement on behalf of the members of the Solutia employee retirement plan, saying that it doesn't adequately explain the ramifications of the employees' claim.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, the employees, one former and one current, argued on behalf of the creditors of the Solutia Inc. Savings and Investment Plan (SIP) that the company's disclosure statement is silent regarding the existence and limits...
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