Solutia Inc., a leading manufacturer and provider of PVB interlayers, received approval on 19 October 2007 of its disclosure statement from the US Bankruptcy Court for the Southern District of New Yor…
Solutia Inc., a leading manufacturer and provider of PVB interlayers, received approval on 19 October 2007 of its disclosure statement from the US Bankruptcy Court for the Southern District of New York. At the hearing the judge also set 29 November 2007 as the date of Solutia“s confirmation hearing. “With the disclosure statement approved, a fully consensual plan of reorganization in hand, and the confirmation hearing scheduled, we now have a clear path to emergence from Chapter 11”, said Jeffry N. Quinn, chairman, president and chief executive officer of Solutia Inc. Solutia will soon proceed with the mailing of the solicitation materials to creditors and equity security holders. The court will hold a 29 November hearing to confirm the plan, after which Solutia will emerge from Chapter 11.