Judge OKs Solutia Settlement Over Financing Deal

Law360, New York (July 30, 2007, 12:00 AM EDT) -- A bankruptcy judge has signed off on a settlement allowing a group of certificate purchasers to collect millions of dollars worth of claims against Solutia in its Chapter 11 case.

On Friday, Judge Prudence Carter Beatty granted Solutia’s deal with the purchasers, including units of AIG and Credit Suisse, to have a secured claim of $20 million and a general unsecured claim of more than $27.3 million against the St. Louis, Mo.-based chemical company in its case playing out in the U.S. Bankruptcy Court for the...
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