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Solutia Noteholders' Pleas Fall On Deaf Ears

Law360 (November 27, 2007, 12:00 AM EST) -- Despite emergency pleas from Solutia Inc. senior noteholders, a New York bankruptcy judge has upheld an order that shaved about $70 million from their claim against the bankrupt chemical company.

Judge Prudence Carter Beatty of the U.S. Bankruptcy Court for the Southern District of New York on Monday entered a final order granting Solutia and the official committee of unsecured creditors' partial motion for summary judgment. Beatty also entered orders denying emergency motions by The Bank of New York - the indentured trustee for the senior...
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