Issue Date: May 21, 2007
Solutia Sees An End To Bankruptcy
Solutia has filed an amended reorganization plan with the Bankruptcy Court for the Southern District of New York that provides greater recovery for creditors due to an increase in the estimated value of the company. As in an earlier version of the plan, Solutia's former parent, Monsanto, will be responsible for many of the firm's environmental liabilities. Solutia CEO Jeffry N. Quinn says he believes his company will be able to emerge from almost four years of bankruptcy in the third quarter.
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