Solutia Chapter 11 Plan, Settlements Get Court OK

Law360 (November 30, 2007, 12:00 AM EST) -- After a tumultuous four-year stint in Chapter 11 protection and five different drafts of its reorganization plan, troubled chemical company Solutia Inc. on Thursday finally received court approval to exit its bankruptcy process.

Judge Prudence Carter Beatty of the U.S. Bankruptcy Court in the Southern District of New York confirmed Solutia's Fifth Amended Plan of Reorganization and approved three separate settlements over its legacy liabilities.

“While this has been a long process, we have used our time in Chapter 11 to truly transform and

revitalize Solutia...
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