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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.