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Markets :: Basic Chemicals :: Inorganic Chemicals :: Titanium Dioxide

Tronox Files Additional Reorganization Plan

2:17 PM MDT | July 8, 2010 | Lindsey Bewley

Tronox says it has filed an additional reorganization plan with the U.S. Bankruptcy Court for the Southern District of New York that provides significant recovery for its unsecured creditors and also establishes a trust to resolve environmental claims. Tromox’s unsecured creditors are expected to recover 80%-100% of their $470.6 million in claims, while secured creditors owed about $1 million would be fully repaid, Tronox says. Creditors with an estimated $1.4 billion to $5.2 billion of environmental claims would have their cases addressed in accordance...

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