Solutia Disclosure Statement Remains Unapproved

Law360, New York (August 1, 2007, 12:00 AM EDT) -- A judge said Wednesday that she could not approve Solutia Inc.'s disclosure statement without first viewing its settlement with former parent Monsanto Co., which, along with a retiree settlement, is supposed to propel the company out of bankruptcy.

As a result, the various stakeholders in the case agreed on a compromise in which Solutia will file the Monsanto and retiree settlements no later than Aug. 14. At that time, Judge Prudence Carter Beatty of the U.S. Bankruptcy Court for the Southern District of New York will...
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