Solutia receives extension to exclusive periods

New York, Dec. 7 - Solutia Inc. obtained an extension to its exclusive periods from the U.S. Bankruptcy Court for the Southern District of New York.

The company now has the exclusive right to file a reorganization plan until April 10 and the exclusive right to solicit votes for the plan until June 9.

Previously its exclusive periods were to end Jan. 10 and March 10, 2005, respectively.

The extension was reported in an order filed Tuesday.

The St. Louis-based chemical company filed for bankruptcy on Dec. 17, 2003. Its Chapter 11 case number is 03-17949.

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