Solutia Tackles Objections In New Plan, Statement

Law360, New York (July 10, 2007, 12:00 AM EDT) -- Solutia Inc. has filed a revised reorganization plan and disclosure statement on the heels of objections from parties who contend that Solutia, Monsanto Co. and Pharmacia Corp. should pay more than $1 billion for injuries and property damages related to dioxin contamination.

Solutia spokesman Dan Jenkins said Tuesday that a hearing on the adequacy of the disclosure statement was underway, and that the parties were awaiting the court's ruling. Jenkins added that the changes to the disclosure statement reflected recent objections, as well as discussions with...
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