Creditors Get Behind Solutia Plan

Law360, New York (September 27, 2007, 12:00 AM EDT) -- Bankrupt chemical company Solutia Inc. said Wednesday that it has gained the support of all the major parties in its Chapter 11 case and plans to file a revised reorganization plan and disclosure statement soon.

A judge in the U.S. Bankruptcy Court for the Southern District of New York is scheduled to consider the company's disclosure plan on Oct. 10. If approved, the disclosure statement will be sent to the company's creditors and equity interest holders for a vote.

"The revised plan will position Solutia to...
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