Solutia Files Consensual Plan of Reorganization and Disclosure Statement

Date: 18 October 2007
Source: Solutia
Solutia Inc. manufacturer and provider of high-performance specialty materials and chemicals, today filed a consensual plan of reorganization that has the support of all major constituents in its Chapter 11 case.

The plan -- known as the fifth amended plan of reorganization -- was filed today with the U.S. Bankruptcy Court for the Southern District of New York along with Solutia's fifth amended disclosure statement. The agreement that formed the basis for this filing was announced in a press release issued Sept. 26, 2007, which can be viewed by clicking here:

"This consensual plan of reorganization, which is supported by all of the major constituents in our case, will facilitate Solutia's emergence from Chapter 11 as a financially healthy company," said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc.

An Oct. 19, 2007 hearing has been set at which the court will be asked to approve the disclosure statement. Once approved, the disclosure statement will be sent to Solutia's creditors and equity interest holders to solicit approval of the plan. The solicitation period will run for 30 days from the mailing of the solicitation materials. Following the solicitation period, the court will hold a hearing to confirm the plan, after which Solutia will emerge from Chapter 11.

To view the fifth amended plan of reorganization and disclosure statement, please visit

600450 Solutia Files Consensual Plan of Reorganization and Disclosure Statement
Date: 18 October 2007
Source: Solutia

See more news about:

See more from these topics:

Others also read

Keepsafe Maximum Glass preserves aesthetic appeal of the hotel while providing protection from hurricanes
Saflex® Earth Tones Collection Soothing Colors for Today’s Architectural Designs KINGSPORT – Eastman Chemical Company (NYSE:EMN), manufacturer of Saflex® PVB interlayers, announces a new color collection designed to give laminated glass — and thereby any architectural space — greater aesthetics, warmth, and serenity.
When tenants refuse to renew their leases because of heat and glare problems, property owners and managers know they have a severe problem and must address it immediately.
Eastman Chemical Company (NYSE:EMN) is proud to announce that Saflex® DG structural interlayer has been awarded the General Technical Approval (Allgemeine Bauaufsichtliche Zulassung or AbZ) by the German Institute for Building Technology (Deutschen Institut für Bautechnik -DIBt).
High performance window film as applied to commercial and residential properties is so advanced today that you can address solar control, safety, and high energy savings all in one film, according to Bob Kerr, president of Epic Glass Tinting.
Starting today, Eastman Chemical Company (NYSE: EMN) will showcase advanced automotive glazing technologies at its booth during the 2013 Japanese Society of Automotive Engineering (JSAE) World Congress, held May 22 through May 24 in Yokohoma, Japan.

Add new comment