Solutia Litigation

This case involved litigation over the refusal by a group of lenders to provide financing to our client, Solutia, which would enable it to exit bankruptcy. We were retained by Rick Werder and others at Quinn Emanuel Urquhart Oliver & Hedges, LLP to analyze whether the conditions in the credit markets and, specifically, for leveraged syndicated loans provided a basis for the lenders to refuse to fund under a “market MAC” clause. Christopher Culp of Compass Lexecon testified in the case on the state of credit markets at various points in time. The parties reached a settlement prior to closing arguments and Solutia emerged from bankruptcy with funding provided by the original bank group.