Daily News: June 9, 2014

Momentive Braces for Bankruptcy Plan Dispute

Bloomberg reported that Apollo Global Management’s Momentive Performance Materials is bracing itself for a disputed bankruptcy exit plan. Bloomberg says the company hopes to have its place confirmed by a bankruptcy court judge in August.

Bloomberg noted, citing court papers, Momentive could face opposition due to litigation with creditors requiring a “substantial” investigation. The bankrupt maker of silicones and quartz products asked U.S. Bankruptcy Judge Robert Drain for his approval to wrap up discovery by July 25.

To read the entire Bloomberg article, click here.

Previously on abfjournal: Bankruptcy Judge Approves Momentive Finance Package, May 27, 2014