Almatis Group Receives Court Approval of Its First Day Motions
FRANKFURT, Germany, May 5 /PRNewswire/ -- The Almatis Group today announced that the United States Bankruptcy Court for the Southern District of New York has approved the relief requested in its First Day Motions that will enable the Company to continue to operate in the ordinary course of business.

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Chapter 11 of the Bankruptcy Code governs the process of reorganization under the bankruptcy laws of the United States.When a troubled business decides that it is unable to service its debt or pay its creditors, it can file (or be forced by its creditors to file) with a federal bankruptcy court for bankruptcy protection under either Chapter 7 (liquidation) or Chapter 11.