Solutia creditors reject stockholder panel
Creditors claim that the panel representing stockholders is an unnecessary expense
In a recent motion filed with the US Bankruptcy Court in Manhattan, the representatives for the unsecured creditors of Solutia, a manufacturer of chemical-based products headquartered in Missouri, asked that the panel established to represent stockholders of the company during the Chapter 11 case be disbanded.
According to the motion, the committee representing the unsecured creditors claimed that
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