German steel-component supplier SGL Carbon AG isn’t misusing U.S. bankruptcy laws to avoid millions of dollars in potential antitrust liability, a Delaware judge has concluded.
SGL Carbon Corp., SGL Carbon’s U.S. unit, filed for Chapter 11 protection in U.S. Bankruptcy Court in Wilmington in December, saying it faced substantial legal liability from civil price-fixing lawsuits. Creditors argued that the bankruptcy case should be dismissed because it was filed strictly to gain leverage in antitrust suits.
