Solutia Noteholders Call For Review Of $280M Claim

Law360, New York (November 16, 2007, 12:00 AM EST) -- A group of Solutia Inc.'s senior noteholders have filed an emergency motion to the Manhattan bankruptcy court challenging a ruling that shaved more than $70 million from their claim against the beleaguered chemical company.

Trustees for the group, who hold 11.25% in senior secured notes issued by Solutia, asked Judge Prudence Carter Beatty to reconsider her Nov. 9 ruling that reduced the amount of the group's claim from $280 million to $209 million.

Arguing the ruling contained “fundamental errors of fact and law,” the Bank of...
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