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DUTV on a nice run... looks like we may hit 250% gain today.
LBSRLiberty Star Uranium
LBSR at its low. Expected to see news release. May hit .06-.12
Sandstorm Gold Limited (SSL.V) has climbed 8 cents to currently trade at $1.99. The shares have touched a record high of $2.02. More than 2.8 million shares have changed hands. Last week, Sandstorm reported record gold sales in the fourth quarter.
SSL yesterday cited an operational update on Brigus Gold Corp.'s (BRD.TO) Black Fox Mine. Brigus management is focused on increasing gold production at Black Fox and has targeted 25,000 ounces per quarter by the end of 2012. Brigus is unchanged at a year low 78 cents.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm has completed gold purchase agreements with a host of companies, including Brigus Gold
UPDATE: Sandstorm Gold Hits Record Highs Following Brigus Gold Update; But Brigus Unchanged At Yr Lows
TDAMERITRADE saying opening transactions for this security are not accepted... what gives
LBSR is going to break out within the next 3 weeks... keep on watch list.
Isn't 3rd quarter results due out today?
shafted is right... high end my butt! Lied to the whole way.
So where to from here what are the list of competitors stock prices. What would the future prospects of chemtura stock hitting higher numbers? 20's-30's-40's....
I would like to thank everyone for the efforts over the past 18 months. Has been a long ride. I held to the end. Now awaiting to see how much we get...
So what does this mean?
Still holding tight to mine.... I am riding this to the end.......
So when is the big day?
Asking price is 2.25 this morning....
NEW YORK (Dow Jones)--Chemtura Corp. (CEMJQ) and its shareholders sparred Thursday in bankruptcy court in day one of what promises to be a protracted fight over the chemical company's plan to exit Chapter 11 protection.
Judge Robert E. Gerber of U.S. Bankruptcy Court in Manhattan heard opening arguments from both Chemtura and the official committee representing its shareholders, which are at odds over how much Chemtura is worth and how much current equity holders should recover in the case.
Chemtura's plan to exit bankruptcy would pay its lenders in full, give unsecured creditors cash and most of the restructured company's stock, and cut Chemtura's debt to $750 million, half of what it was when the company filed for bankruptcy in March 2009.
If they had voted for Chemtura's plan, Chemtura's equity holders would have received 5% of the new company's stock and the right to participate in a $100 million rights offering.
The shareholders have argued the plan would shut them out from recovering leftover money from trusts being set up to handle claims related to the chemical diacetyl. The equity holders voted down the plan, and instead will get whatever is left over after unsecured claims are paid in full and reserves are established for disputed claims.
Chemtura lawyer Natasha Labovitz of Kirkland & Ellis LLP said she thinks the equity holders will receive the high end of what was expected when Chemtura developed its plan. Chemtura places that range at between 0.5% and 9%.
The equity committee said the choice between 5% of the company's equity or rejecting the plan was a "death trap," and that it should get to participate in the rights offering no matter what. After the committee's attempt to present a rival exit plan was rejected by Gerber last month, the two sides have been feuding over the Chemtura's value.
Chemtura says the "middle range" of a Lazard Freres-commissioned valuation is $2.05 billion, a number much lower than the UBS AG (UBS)valuation offered by the committee.
A lawyer for Chemtura's creditors said even Lazard's valuation of Chemtura relies on very optimistic projections, meaning that going any higher would paint an overly rosy picture of how much Chemtura is worth.
If Gerber decides Chemtura is worth more than it says, lawyers for Chemtura and the creditors said creditors who accepted the plan would no longer be bound to its terms.
"That is the fundamental problem we have here, and it's unfortunate," said George Zimmerman of Skadden, Arps, Slate, Meagher & Flom LLP, an attorney for the equity committee. He added, "They're putting a gun to your head. It's $2.05 [billion] or nothing."
Chemtura, which manufactures specialty chemicals including agriculture, pool, spa and home-care products, filed for bankruptcy protection in March 2009 after demand for its product soured. Since then, the Middlebury, Conn., company has seen improved performance and has settled hefty environmental claims.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection.)
-By Joseph Checkler, Dow Jones Daily Bankruptcy Review; 212-416-2152; joseph.checkler@dowjones.com
(Eric Morath contributed to this article.)
(END) Dow Jones Newswires
September 16, 2010 12:41 ET (16:41 GMT)
I am still holding.... Best of luck to all of us still holding!
A previuos post I made
Posted by: Lestat69 Date: Wednesday, July 21, 2010 3:53:29 PM
In reply to: None Post # of 64842
will "CRAM DOWN" be next?
Madclown,
From what I gathered from the objection posting. We should be looking a 25% recovering not a measly 5%?
That was a good thanks for posting that...
Love the letter BB... and I really love the very last line. Ron Paul!!! He has my vote for PREZ!!!
Why would they title it like that? Is is still going through courts system and have not been sued yet. It is going through courts. Should have worded it like "being sued by".
Just got my ballot today....
My response from TDAMERITRADE in regards to vote.
Thank you for your email. I regret to inform you that any matter involving a bankruptcy does not go through us. It is recommended that you contact the company directly for they are the ones actively involved in handling the matter. I will provide you the information that is in our database for appropriate contact:
THE BALLOT AGENT IS: EPIQ BANKRUPTCY SOLUTIONS, LLC
757 THIRD AVENUE, 3RD FLOOR
NEW YORK, NEW YORK 10017
ATTN: CHEMTURA BALLOTING PROCESSING
TEL.: 1-866-734-9387
SOLICITATION PACKAGES WILL BE MADE AVAILABLE ONLINE AT THE DEBTORS'
RESTRUCTURING WEBSITE AT: WWW.KCCLLC.NET/CHEMTURA OR BY CONTACTING THE
DEBTORS' SECURITIES VOTING AGENT, EPIQ BANKRUPTCY SOLUTIONS LLC AT (866)
734-9387.
Ballots must be actually received by the Voting and Claims Agent or Securities Voting Agent, as appropriate, by the
Voting Deadline of 5:00 p.m. Eastern Daylight Time on September 9, 2010 at the following addresses:
Voting and Claims Agent:
[For Classes 1, 4a, 4b, 5, 10 and 11]
Chemtura Balloting Center
c/o Kurtzman Carson Consultants LLC
2335 Alaska Avenue
El Segundo, California 90245
* * * * * * *
Securities Voting Agent:
[For Classes 6, 7, 8 and 13a]
Chemtura Ballot Processing
c/o Epiq Bankruptcy Solutions LLC
757 Third Avenue, 3rd Floor
New York, New York 10017
If you received an envelope addressed to your nominee, please allow enough time when you return your ballot for your
nominee to cast your vote on a Ballot before the Voting Deadline.
If you have any questions on the procedure for voting on the Plan, please call the Voting and Claims Agent at the
following telephone number:
(866) 967-0261
E.
Now if I am not mistaken we fall in the class 13a correct?
I have yet to get anything for this proxy vote. TDAMERITRADE
sham boozeled! gotta love it....
In past cases Gerber has handled were always sided with our opponents. I hope he does open his eyes and sees what is happening here. The likely hood looks grim but we do have Goffman. So we are in limbo as of now. The court system is ridiculous. Why is it that companies can go into BK and choose the judge they want but an individual goes into the system they get no choice on the judge to handle thier case. Corporate greed I tell yeah. Welcome to corporate america!!! bah humbug!!
Speculation
EOD .113
Why can other companies use proxyvote.com. This is straight up theft. I get many proxy vote via email and go right to the site and make my vote. Why is this so difficult for a billion dollar company to do the same for its stake holders?
"While the Debtors have filed a POR, there can be no final assurance of
the recoveries provided for that in that plan until it is confirmed by order
of the Bankruptcy Court and the conditions for its effectiveness have been met. Because
of such uncertainties, the value of the Company's common stock and
unsecured debt remains speculative. Accordingly, the Company urges that
appropriate caution be excercised with respect to existing and future investments
in any of these securities."
Ok sounds nice but then they go on and say they can cancel without any compensation.
I wouldn't invest in this company again if this is how they consistantly treat
their share holders. I would invest in a competitor.
Still sitting and awaiting a verdict. It has been extremely quiet in here the past few weeks.
Chemtura Sells its Natural Sodium Sulfonates and Oxidized Petrolatum Businesses to SonnebornLast update: 7/30/2010 12:06:00 PMPHILADELPHIA, Jul 30, 2010 (BUSINESS WIRE) -- Chemtura Corporation, debtor-in-possession (Pink Sheets: CEMJQ) ("the Company" or "Chemtura"), today announced that it has completed the sale of the natural sodium sulfonates and oxidized petrolatum product lines of its Petroleum Additives business to Sonneborn Inc., an affiliate of private investment firm Sun Capital Partners, Inc. The sale includes certain assets and the assumption of certain liabilities. Assets include the Petronate(TM) sodium sulfonate detergent and Oxpet(TM) oxidized petrolatum corrosion inhibitor brands, customer information, and working capital. Petronate(TM) emulsifiers are additives that are designed to provide emulsification for mineral oil and water based lubricant systems. Oxpet(TM) oxidized petrolatum corrosion inhibitors provide rust protection in formulating industrial metal protective compounds. The transaction was recently approved by the United States Bankruptcy Court for the Southern District of New York. Chemtura, with 2009 sales of $2.3 billion, is a global manufacturer and marketer of specialty chemicals, agrochemicals, and pool, spa and home care products. Additional information concerning Chemtura is available at . Sonneborn is a world leader in the manufacture and supply of high-purity specialty hydrocarbons. Its primary products are white oils, plastics oils, petrolatums, microcrystalline waxes, wax blends, refrigeration oils, cable filling compounds, compressor lubricants, ink oils, and petroleum distillates. More information concerning Sonneborn is available at . Sun Capital Partners, Inc. is a leading private investment firm focused on leveraged buyouts, equity, debt, and other investments in companies that can benefit from its in--house operating professionals and experience. Sun Capital affiliates have invested in more than 225 companies worldwide with combined sales in excess of $40 billion since Sun Capital's inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles, and New York, as well as affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For more information, please visit . Forward-Looking Statement This document includes forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended and Section 21(e) of the Exchange Act of 1934, as amended. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will" and similar expressions and include references to assumptions and relate to our future prospects, developments and business strategies. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: -- The ability to complete a restructuring of our balance sheet; -- The ability to have the Bankruptcy Court approve motions required to sustain operations during the Chapter 11 cases; -- The uncertainties of the Chapter 11 restructuring process including the potential adverse impact on our operations, management, employees and the response of our customers; -- Our estimates of the cost to settle proofs of claim presented in the Chapter 11 cases; -- The ability to confirm and consummate a Chapter 11 plan of reorganization; -- The ability to be compliant with our debt covenants or obtain necessary waivers and amendments; -- The ability to reduce our indebtedness levels; -- General economic conditions; -- Significant international operations and interests; -- The ability to obtain increases in selling prices to offset increases in raw material and energy costs; -- The ability to retain sales volumes in the event of increasing selling prices; -- The ability to absorb fixed cost overhead in the event of lower volumes; -- Pension and other post-retirement benefit plan assumptions; -- The ability to improve profitability in our Industrial Engineered Products segment as the general economy recovers from the recession; -- The ability to implement the El Dorado, Arkansas restructuring program; -- The ability to obtain growth from demand for petroleum additive, lubricant and agricultural product applications; -- The ability to restore profitability levels in our Chemtura AgroSolutions(TM) Engineered Products segment as demand conditions recover in the agrochemical market. Additionally, demand for the Chemtura AgroSolutions(TM) Engineered Products segment is dependent on disease and pest conditions, as well as local, regional, regulatory and economic conditions; -- The ability to sell methyl bromide due to regulatory restrictions; -- Changes in weather conditions which could adversely affect the seasonal selling cycles in both our Consumer Performance Products and Chemtura AgroSolutions(TM) Engineered Products segments; -- Changes in the availability and/or quality of our energy and raw materials; -- The ability to collect our outstanding receivables; -- Changes in interest rates and foreign currency exchange rates; -- Changes in technology, market demand and customer requirements; -- The enactment of more stringent U.S. and international environmental laws and regulations; -- The ability to realize expected cost savings under our restructuring plans, Six Sigma and Lean manufacturing initiatives; -- The ability to recover our deferred tax assets; -- The ability to support the goodwill and long-lived assets related to our businesses; and -- Other risks and uncertainties detailed in Item 1A. Risk Factors in our filings with the Securities and Exchange Commission. These statements are based on the Company's estimates and assumptions and on currently available information. The forward-looking statements include information concerning the Company's possible or assumed future results of operations, and the Company's actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this press release was issued. The Company undertakes no duty to update any forward-looking statements to conform the statements to actual results or changes in the Company's operations. SOURCE: Chemtura Corporation Chemtura Corporation Investor Relations Stephen Forsyth, 203-573-2213 or Media Relations John Gustavsen, 203-573-3224Copyright Business Wire 2010
Old news but not sure if anyone posted
Chemtura May Complete Sulfonates Sale To Sonneborn
Specialty-chemical maker Chemtura Corp. was given court approval on July 23 to sell the remainder of the sodium sulfonates and oxidized petrolatums businesses to Sonneborn Inc. for $5 million plus adjustment. The bankruptcy judge approved the sale without holding an auction to test if there was a higher price.
Last week the judge said he would approve the disclosure statement after changes are made. Supported by the creditors’ committee and an ad hoc bondholder group, the reorganization plan would pay creditors in full while leaving the possibility of saving some value for existing shareholders. The plan would reduce debt for borrowed money from $1.3 billion to approximately $750 million. For details, click here for the June 18 Bloomberg bankruptcy report.
The Chapter 11 petition in March 2009 by Middlebury, Connecticut-based Chemtura listed assets of $3.06 billion against debt totaling $2.6 billion, including $1.02 billion owing on three issues of notes and debentures. Sales in 2008 of $3.5 billion declined to $2.5 billion in 2009. The subsidiaries outside of the U.S. didn’t file.
The case is Chemtura Corp., 09-11233, U.S. Bankruptcy Court, Southern District of New York (Manhattan).