Momentive Performance Materials Inc., a maker of silicones and quartz products owned by Leon Black’s Apollo Global Management LLC, won court approval to put the rough terms of its bankruptcy plan to a creditor vote, Bloomberg News reported yesterday. Bankruptcy Judge Robert Drain yesterday approved the company’s disclosure statement outlining its reorganization. Momentive had sought to resolve three creditor lawsuits on an accelerated schedule, leading up to a five-day trial that would confirm a plan by Aug. 22. The judge said that there was no need to hold up a vote just for the lawsuits, while suggesting that a trial on final plan approval be delayed to Sept. 14.
