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Thursday, July 08, 2010 1:52:02 AM
"On June 28, 2010, Tronox arranged a meeting with the United States and the Equity Committee to discuss potential ways to reach a consensual arrangement among the Environmental Claimants, the Equity Committee and Tronox. The parties discussed a variety of ideas and, on July 1, 2010, the Equity Committee provided a proposed term sheet to Tronox and the United States. Tronox continues to review the proposal."
It is also interesting that the disclosure statement does not provide for the infusion of new money from equity or the GUC's. Hopefully the above referenced EC term sheet includes infusion of new cash at emergence as opposed to providing it on the back end through warrants.
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