Momentive Senior Creditors Say Appeal Is Alive, Seek Relief From Second Circuit

Creditors of Momentive Performance Inc. who opposed approval of its Chapter 11 reorganization won’t concede that their appeals died when the producer of silicones for the semiconductor industry implemented the plan last week (BOKF NA v. Momentive Performance Materials Inc. (In re MPM Silicones LLC), 2d Cir., letter filed 10/27/14).

Immediately after consummating the plan on Oct. 24, Momentive Performance told the U.S. Court of Appeals in New York that a motion by the objectors to hold up the plan pending appeal became moot with the distribution of cash and new securities to creditors.

Two creditor groups are ...