03 November 2010 22:58 [Source: ICIS news]
HOUSTON (ICIS)--US-based pigment producer Tronox has won the support of a credit group in a step that brings the company closer to emerging from Chapter 11 bankruptcy protection, it said on Wednesday.
Under the settlement, a group representing shareholders would support Tronox's reorganisation plan, the company said. In addition, the settlement removed the groups planned objections to the court confirming the plan.
Tronox needs the court to confirm its reorganisation plan before it can emerge from bankruptcy protection.
The court scheduled the confirmation hearing to begin on 17 November.
The company filed for Chapter 11 bankruptcy protection in 2009.
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