Solutia's Noteholders Object To Disclosure Statement

Law360, New York (August 14, 2007, 12:00 AM EDT) -- Solutia Inc.'s ad hoc committee of noteholders has asked the court overseeing the company's Chapter 11 proceedings not to approve Solutia's fourth amended disclosure statement, saying it doesn't contain “adequate information” and the committee's concerns have been ignored.

In addition to asking U.S. Bankruptcy Judge Prudence Carter Beatty to reject Solutia's disclosure statement, the noteholders' motion, filed Monday, seeks a hearing as soon as possible to consider the disclosure statement's approval.

Approving the disclosure statement without holding such a hearing would deprive the noteholders' committee of...
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.