Solutia Catches Whiff Of Victory In Claims Battle

Law360, New York (December 13, 2007, 12:00 AM EST) -- Two weeks after Solutia Inc. finally scored a thumbs-up on its reorganization plan, the beleaguered chemical company has successfully bounced nearly $5 million in claims and reduced another $1.5 million from parties hoping to see some sort of recovery in the Chapter 11 case.

On Monday, U.S. Bankruptcy Judge Prudence Carter Beatty issued an order allowing Solutia to bounce numerous claims, reduce others and reclassify even more, according to court documents filed in the U.S. Bankruptcy Court for the Southern District of New York.

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