Opinion
Case No. 03-17949 (PCB), (Jointly Administered).
May 1, 2007
ORDER PURSUANT TO BANKRUPTCY RULE 9019 APPROVING SETTLEMENT WITH FMC CORPORATION
Upon Solutia's Motion, the Memorandum of Law in Support of the Motion, and the Berra Declaration, and upon consideration of the supporting papers and the files and records in these cases, and upon the arguments and testimony presented at the hearing before the Court (if any), and any objections to the Motion having been withdrawn or overruled on the merits, this Court finds and concludes that: (a) the Court has jurisdiction to consider and determine issues arising in these chapter 11 cases pursuant to 28 U.S.C. §§ 157 and 1334; (b) the legal and factual bases set forth in the Motion, the Memorandum of Law, and the Berra Declaration and on the record at the hearing (if any), establish just cause for the relief granted herein; (c) the Proposed Settlement with FMC (i) is fair and equitable, (ii) falls within the reasonable range of litigation outcomes, and (iii) is in the best interests of Solutia and its estates; and (d) proper, timely, adequate, and sufficient notice, including notice of the Motion and the relief requested therein, has been provided in accordance with Bankruptcy Rule 2002(a)(3) and no other or further notice of the Motion is or shall be required.
All capitalized terms used but is not otherwise defined herein shall have the meanings ascribed to them in the Motion.
Based upon the above findings and conclusions, and after due deliberation and sufficient cause appearing therefor,
IT IS HEREBY ORDERED THAT:
1. The Motion is granted in its entirety and approved in all respects.
2. The Proposed Settlement and its terms are hereby approved pursuant to Bankruptcy Rule 9019.
3. The Proposed Settlement and its terms are fair, reasonable and in the best interest of Solutia's estates and its stakeholders.
4. Solutia is hereby authorized, pursuant to Bankruptcy Rule 9019, to execute, deliver, and perform under the proposed settlement and to execute and deliver, or cause its subsidiaries and affiliates to execute and deliver, any and all documents and take any and all actions as are necessary to effectuate the consummation of the Proposed Settlement.