April 1 Momentive Performance Materials Inc said
on Tuesday it may file for Chapter 11 bankruptcy and is in talks
with stakeholders to restructure the debt of the silicone and
As of Sept. 30, the company had total liabilities of $4.14
billion, it said in a filing with the U.S. Securities and
Exchanges Commission on Tuesday.
The unit of Apollo Global Management LLC said it was
unable to file its annual report for the period ended Dec. 31,
on March 31. (link.reuters.com/ryj28v)
In the filing, Momentive said Chapter 11 may be the most
expeditious way to reorganize the company.
Momentive said it was "in active discussions with various
stakeholders regarding alternatives to modify its capital
structure and reduce the company's leverage."
Momentive was not immediately available for comment.
(Reporting by Shubhankar Chakravorty in Bangalore; Editing by