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i don't know if i nailed it or not, but it fits. imo
all i can say with certainty is that at least 4 stockholders letters to the court will be posted today.
syngenta was one of the original 4 companies that were thrown out there as potential acquirers of the crop protection division.
http://www.icis.com/Articles/2009/01/30/9189105/us-chemtura-puts-two-businesses-up-for-sale-sources.html
a little more on syngenta:
http://www.syngenta.com/en/media/pdf/mediareleases/en/20090724_EN_FULL_VERSION_Syngenta_Half_Year_Results_2009.pdf
and syngenta has used alston&bird on more than one occasion for crop related matters, just as chemtura is currently using them.
but just a wild guess, lol
now that's just wrong
edit: i would tell you to red label me a junior's cheesecake, but we both know that i need to be able to fit in my suit come november 18th. i'll get it after the hearing, lol.
google is my friend
just a little speculation on the asset sale: the declaration was signed by Jane Thorpe. Ms Thorpe doesn't have any history that just pops out as to who it is they are representing,,,unless you consider that she has done a ton of work for astrazeneca. then you consider that syngenta was formed from the crop protection arms of astrazeneca and novartis. then you notice that syngenta has hired alston&bird to do some major league lobbying in the past from time to time. throw that into what alston was hired to do for chemtura, and walla, syngenta is my guess and crop protection is what they're after. when all the activity was going on in europe, it looked like syngenta would be the one's who stood to gain the most. that was my guess then and remains.....besides, they got the cash. suggestions?
if you have joined the alliance, you will receive a copy of a letter addressed to Natasha Labovitz concerning some questions relating to an Equity Committee. you will either receive it directly from the office of the us trustee or the alliance.
stay tuned
alston & bird hired by potential purchaser of some of chemtura's assets
Case Manager for Gerber:
Maria Castillo, 212-668-2870 ext. 3683
she's the person that scans in the letters. Call her and ask where your letter is. (after you call Susan Golden)
"florida" is a big fat typo. lol, where's manti at when K&E needed him. lmao
it's funny how it gets there tuesday at 9am and then shows up today,,,,not to mention i use a laser printer original to send in and when it pops up scanned in, it looks like they stomped on it a couple of times lol
i just want to clear something up about this discussion on the EC. The judge stopped the hearing on the exclusivity periond extension just a couple days ago and asked wth is the deal with all the letters he's been getting. (see, he is paying attention to those of you who have sent in letters) I know this because someone that was in the court room told me. He asked Labovitz and got the standard answer that she WILL ALWAYS give, and that is she doesn't see anything but is still looking. Maybe someone should point her in the right direction. Im not going to elaborate much more on this subject as she is probably monitoring this board like clockwork now, as she has received the objection to their latest fiasco.
the judge has never said that
there's a truckload of letters to be posted today,,along with some sort of disagreement over deliotte fas
all things equal, including the monstrous write down of goodwill, if chemtura would have filed BK exactly 3 years prior to when they did, the book would be $3.51 based just on the depreciation that wouldn't have been taken yet.
if you think this company lost over half a billion dollars of worth in the past 3 years because their plants were falling apart, wellll.........
to each his own, but imo i don't think it's a good idea to be on the sidelines right now
check out docket 1346 (latest) paragraph 8 under 'specific disclosures'.....apollo
im sure there's a couple of grammatical mistakes. if you look at the K&E doc it refers to, they have a big time flop in the table of authorities. the header refers to 'cases cited', and underneath is actually a list of 'statutes'. lol
sad thing is they probably spent a few thousand dollars proof reading that application and missed it.
court doc was delivered an hour ago. it 'should' show up today,,unless it is held back like the last one.
sulli,
they probably wish it was just a letter. if any of you lawyer folks are monitoring my posts, look out for the fed-ex man before 10:30 am eastern tomorrow.
whatever good they accomplish will be reflected in our holdings also. and likewise with the alliance filing and letters to the court and trustee. we are helping them tremendously, and they are returning the favor.
19/10/2009 Chemtura shareholder group taps financial advisor
UBS
Debtwire
Story
An ad hoc group of Chemtura share holders is organizing
with financial advisor UBS, said three sources familiar with
the situation.
The committee, led by Strategic Value Partners, selected
UBS at the end of last week following pitches from firms
including Broadpoint Gleacher, said one of the sources
familiar and a buyside source. Skadden Arps serves as the
group’s legal counsel, as previously reported.
Mobilization among stockholders follows a decision last
month by the US Trustee assigned to Chemtura’s
bankruptcy to not support the formation of an equity
committee. Undeterred, the group is now weighing a plan to
backstop a USD 300m rights offering to pay down pre-
petition debt and ensure an equity recovery under a plan of
reorganization, as reported.
Chemtura’s common stock traded at USD 1.25 today, up
from USD 1.06 last week. The company’s USD 375m 7%
senior unsecured notes due 2009 and USD 150m 6.875%
notes due 2016 both traded around 105-106 today, down
from 111 on 16 October, according to MarketAxess. The
debtor’s USD 150m 6.875% senior unsecured notes due
2026, which have lesser guarantors than the other two
classes, traded today at 82.5 today, down from 87.25 on 16
October.
Calls to UBS, Strategic Value Partners and Chemtura’s legal
counsel Kirkland & Ellis were not returned.
by Andrew Ragsly and Reshmi Basu
Source
Debtwire
i can't open it, you must have done it with word pad. it's happened to me before, and i even have word pad on my computer. i suggest check the names and addresses and get with it.
you're right. chemtura doesn't qualify for 'fresh start' accounting. further, the POR is a prerequisite to make a determination if fresh start applies. we are no where close to a POR, we aren't even to the bar date, and K&E dumps this "leech on equity's tit" on us. it's laughable.
this is why I am rapping up an objection to be filed in the court against this application. maybe we can get our good friend madclown to post it on his blog. the gloves are officially coming off!
this is but one more reason folks should send in a letter requesting an EC to the trustee and point this nonsense out.
further, if you really want to know the truth, i have a theory that K&E is purposely making derogatory comments and ill-willed filings such as this in an attempt to suppress the stock price,,,,the result being the hindrance of the forming of an EC. stealthy, but the benefits to K&E are obvious.
EDIT: and hfields, it doesn't mean "bye bye" to commons, but it does mean at least 1 for 2 reverse split scenario or effectual dilution resulting in this
nice post sully. factual and to the point
hey chemic did you ever figure out how to read the MOR?
him and one more guy killed the yahoo board. i remember when they proposed the KEIP plan. he went ballistic. sounded like an ex employee with a chip on his shoulder.
good ol chemic and wigwongsong whatever. just swell fellas.
(im anxiously awaiting for my phone to ring right now)
now why did you have to bring up my sister?
i don't really have a sister........
hey chemic,
hey there little buddy, read this link, and look at the folks who have helped you......more than your lawyer has...oooops, i forgot yalls' lawyer hasn't done anything.....my number is there ol buddy
http://www.kccllc.net/documents/0911233/0911233091014000000000003.pdf
sincerely, on top of my horse
you are really laughable. i suggest you look at who authored the chemtura stock alliance filing in the court records. give me a call later if you have anything to add. (the number's there buddy)
what gets me is the MM's have level 3 and anyone who has a stop-loss trigger or a sell order GTC is right there on their screen. they know exactly where people will sell on the way down and on the way up. it's the same as playing blackjack with your cards dealt face up. i'll never figure that out. they know the bottom, top, and available float.....daily
as a matter of fact, you did attribute to the latest sell-off. you ran around preaching end of world share cancellation on here and to your employee friends.....we'll see how that turns out for you guys later. then tell me to look at 'news wires' at the mor. at least i can understand GAAP. look it up if you don't know what it is. i suggest accounting 101.
but what really gets me is you employees or ex-employees (just a few, not all) want to chime in after me and others have greatly improved your butts chances of keeping a 401k.
you keep yappin, it's a good motivater for me......i'll work harder to make sure the educated folks reap the rewards.....while you and others get left in the dust.
chemic,
let me get this straight. you come on here yappin about share cancellation and stir up everyone, but yet you think that buying into a 3 cent stock that has less than $200 thousand in assets -vs- $67 MILLION in liabilities is a good deal?
wtf
that document is the state of new york pollution police. don't worry about it. has nothing to do with us making noise
Mr. Hahn,
It was I that asked many many posts ago to lay off of Rodney.
Rodney has helped me......aka....he has helped you.
Me and Jax haven't asked for anything, other than trust, patient, and to lay off of the madclown subject.
There's a whole lot more going on behind the scenes that you are unaware of, and Rodney is an asset to me.
If you interpreted my post as a threat, i could very well interpret yours as you are saying i think im god or something.
I could understand that if you were paying me and jax some big bucks to try to further your investment, and you wanted to have such an opinion, well that's fine.
The fact of the matter is that Jax and I have done more than the Company Stock Fund attorney, and a couple more, and we haven't asked for a single nickel.
What i have asked for is for some folks to lay off of Rodney.
Now you tell me, am i god, or is this not to much to ask?
yeah, i got banned because someone was here spreading bs.
do i have to get banned again?
rodney (mad) has been helping out behind the scenes and has not been here posting much of anything. he owns shares as he has bought back in. he knows what he did, but didn't think it was a big deal, until the outcome. and even then there was some behind the scenes action that was most likely the big trigger of that sell off, not rodney's position.
anybody else got anything to say or ask about it, pick up the phone and call me.
i asked to get up off of madclown as he has helped ALL of us. if you want to make it harder on me with filings and such, i suggest hiring a very expensive lawyer
i wouldn't be worrying yourself about my panties as they are fine. you should probably consider tending to your own panties.
let's leave the madclown comments off this board from now on. i'm getting tired of people talking about him. He's still helping this cause with his blog, which is way more than most all here. He had his reasons for selling,,,some of which im sure are the bs postings like the ones by chemic, combined with what i think is a deliberate attempt by K&E to keep the share price down with their derogatory comments.
I've known about the proctor and gamble news for some time now. mr Chemic is getting his news a little late. Chemtura has operations all over the world and people get uptight about one customer at one plant in arkansas.
you gain and lose customers every day. such is business. that doesn't mean they wont be back next month either.
BTW, we look to be short some letters to the court. don't tell me we had a lot of 'talkers' but not enough 'doers'
They don't speak english here in texas, so i got that covered.
i'll have to write this down so i don't forget
that's okay sklauble,,,just wait until i ask a hundred or so board posters to join me. lol i know jax got my back