A bankruptcy judge on Monday confirmed Almatis Group's plan to exit Chapter 11 protection in the hands of its corporate parent, Dubai International Capital, bringing the closely watched five-and-a-half month battle for the Netherlands-based aluminum company closer to resolution, Dow Jones Daily Bankruptcy Review reported. Under the restructuring plan, Almatis will emerge from bankruptcy 60% owned by DIC, with junior mezzanine lenders getting 40%. The plan sets aside 10% of the new company's shares for Almatis management.

LyondellBasell Industries NV, one of the world's biggest plastics and chemical producers, has decided to end all business operations in Iran, a move designed to shield itself against possible penalties the U.S. could soon impose on firms for violating sanctions against the Islamic Republic, Dow Jones Daily Bankruptcy Review reported. The Dutch company's board approved the decision early this month after months of deliberation, according to a LyondellBasell spokesman.

Life insurance and pension provider Aegon NV on Tuesday soothed market fears that it could need a capital increase after saying it aims to repay the remaining €2 billion ($2.56 billion) it owes the Dutch state before the end of June 2011, The Wall Street Journal reported. The repayment details came just before Aegon received final approval from the European Commission for receiving state aid during the financial crisis. The commission cleared the aid later Tuesday, saying it was satisfied that the insurance company's restructuring plan will lead to a viable company.

Chemtura Corp. has struck a deal to sell its stake in a Dutch joint venture that will pay the chemical company $5 million and allow it to unload $14.25 million in environmental and pension liabilities, Dow Jones Daily Bankruptcy Review reported. In papers filed Wednesday with the U.S. Bankruptcy Court in Wilmington, Del., Chemtura said the deal will allow it divest a petroleum-additive business that contributes little to its bottom line but exposes it to potentially expensive obligations. The sale to Sonneborn B.V.

Failed Dutch bank DSB should not have been given a licence to operate, the commission that investigated its collapse said on Tuesday, pinning the ultimate blame on bad management of the bank. The tough report will put added pressure on central bank president Nout Wellink, who has been heavily criticised for his work since the start of the financial crisis. The Dutch central bank, known as the DNB, issues banks their operating licences. DSB, which got its license in 2005, failed after an Oct. 1 TV interview with a lawyer for a DSB mortgage holders' foundation.

The Netherlands, home of the "Dutch model" welfare economy, is set to become the next European country to move toward fiscal conservatism in the wake of general elections Wednesday, The Wall Street Journal reported. Fears over the budget deficit have eclipsed concerns about immigration and the growing reach of Islam, after a series of warnings from domestic economists and the European Union about a looming debt problem. For decades, the Dutch government has been led by either the Christian Democrats or the Socialists.

Nationalised Dutch bank ABN Amro forecast more than €1 billion in second-quarter charges today, offsetting profitable results from both its units in the first quarter, The Irish Times reported. The Dutch government nationalised the local operations of former Belgian concern Fortis in October 2008, including both banks, amid a liquidity crisis. It has spent more than €26 billion on the nationalisation and subsequent support, making it one of the world's costliest rescues due to the credit crisis.

Frankfurt-based aluminum company Almatis Group Friday put its operations in the U.S., Germany and the Netherlands in Chapter 11 bankruptcy protection to restructure the company's $1 billion debt load, Dow Jones Daily Bankruptcy Review reported. In court papers filed Friday with the U.S. Bankruptcy Court in Manhattan, Almatis said the proposed restructuring would slash its debt by more than $600 million to $414.6 million. The company has already filed a reorganization plan, which has the support of more than two-thirds of the holders of Almatis's first-lien debt.

A bankruptcy court judge on Friday approved Lyondell Chemical Co's plan to exit bankruptcy, signaling the near-end of a 15-month process during which the chemical maker fended off a takeover and settled hundreds of environmental claims and a creditor lawsuit, Reuters reported. Judge Robert Gerber gave his assent to a plan in which Apollo Management, Ares Management and Access Industries will provide financing. Lyondell filed for bankruptcy in January of 2009 under the weight of about $24 billion in debt.

Dubai International Capital said Tuesday that it will continue with its plan to refinance its German aluminum company Almatis, despite distressed-debt investor Oaktree Capital implementing U.S. Chapter 11 bankruptcy proceedings that could see it take control of the company, Dow Jones Daily Bankruptcy Review reported. The announcement comes a day after the Enterprise Chamber of the Amsterdam Court of Appeals turned down DIC's petition for an injunction to prevent Oaktree's Chapter 11 plan.