Upon stirring a THF solution of a transition metal under an aerobic atmosphere, γ-butyrolactone and a small amount of lactol and 4-hydroxybutyraldehyde are formed; the turnover number of this catalytic oxidation process can reach 150 when IrCl(CO)(PPh3)2 is used.
M. Shi, J. Chem. Res. (S), 1998, 592 DOI: 10.1039/A803377C
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