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Update: Momentive Performance Materials files for bankruptcy

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After nearly two weeks of speculation, Waterford-based Momentive Performance Materials Inc. filed for Chapter 11 bankruptcy protection on Sunday. The silicone and quartz producer was facing an unsustainable balance sheet and diminishing liquidity, and earlier this month reported that it was considering bankruptcy as the “most expeditious manner” of reorganizing its capital structure and reducing its debt. The company had nearly $2.7 billion in assets and more than $4.17 billion in debts at the end ...

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