Tronox agrees to let equity committee file competing Chapter 11 plan

By Caroline Salls

Pittsburgh, Aug. 30 - Tronox Inc. has agreed to a brief termination of its exclusive periods for filing and soliciting votes on a plan of reorganization solely to allow its official committee of equity holders to file a competing plan, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Tronox announced on Monday that it planned to file an amended plan with the support of all of its key creditor stakeholders.

According to the motion, the equity committee wants to file an alternative to the company's amended plan.

To avoid delay and ensure a smooth plan confirmation process, Tronox has agreed to allow the committee to file its plan no later than Sept. 2.

In addition, the equity committee has agreed to coordinate the disclosure statement and plan confirmation hearings.

Tronox, an Oklahoma City-based producer and marketer of titanium dioxide pigment, filed for bankruptcy on Jan. 12, 2009. Its Chapter 11 case number is 09-10156.

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