Daily News: August 28, 2014

Judge Rejects Creditor Objections, Sides with Momentive

Reuters reported a judge approved the bulk of Momentive Performance Materials’ bankruptcy exit plan, rejecting creditor objections and pushing Momentive closer to cutting its debt by $3 billion.

According to Reuters , bankruptcy Judge Robert Drain stopped short of confirming the plan outright, rejecting the interest rate being offered to one creditor class.

To read the entire Reuters article, click here.

Previously on abfjournal: Momentive’s Senior Lenders Sue Juniors Over Payment Plans, July 18, 2014