Just updates of what has happened in the past couple of months for new comers is all. If not no big deal. I am fully aware what is happening and where we stand so far.

Jax can you update your sticky's ? 2 months behind...

TRXAQ is in the same boat as well.... also at same price same stage as VSTNQ and CEMJQ

http://rep-am.com/articles/2010/06/18/business/489983.txt?p=8

They have wallstreets IHUB posting in that PDF at the end LOL too funny

Thus, the Ad
Hoc Shareholders’ Committee appears likely to participate in the Debtors’ chapter 11 cases. To
the extent that the Ad Hoc Shareholders’ Committee (or other equity holders) makes a substantial
contribution to Debtors’ chapter 11 cases, they may be able to recover some or all of their
expenses under Bankruptcy Code section 503(b). See In re Ampex Corp., No. 08-11094 (AJG),
2008 WL 2051128, at *2 (Bankr. S.D.N.Y. May 14, 2008) (noting that equity holder could seek
compensation under Bankruptcy Code section 503(b) if the equity holder made a substantial
contribution to debtor’s bankruptcy case).

An old document from our rivals but a good read..

http://kieljamespatrick.com/ChemturaNov25LettertoUSTreEquityCommittee.pdf

Probably works at the run down plant in Perth Amboy NJ if it hasn't already been closed... That place looks like a dive.

"So we support approval of the plan that's been
presented, but we urge the Court and we urge the debtors to
come back to us, as we've been suggesting, and come up with an
additional metric, which we will support, for incentivizing
management and senior management, put forth a plan that
maximizes value for all stakeholders, including shareholders,
and let that value come right out of the pockets of
shareholders so that nobody else can have an argument.
We've talked to them about a whole variety of
different ways that can be done, and we'd like to see
management have the same incentives as equity here.
Aside from that, however, Your Honor, as I said, we're
not objecting to the plan and we support if Your Honor wants to
approve it."

I like how Goffman said were OK with the plan and then they submit it and then BAM! Gerber shot it down.

Sorry 15 months... :o)

The past 16 months have been a hell of a ride. I have a small stake in CEMJQ compared to alot of you all on th boards. I am riding free shares though and have been holding this far. I am going to ride it out to the end. I have faith in our EC in coming forth with a better solution than our opposing team. Why can't we all get along....


We have had many ups and downs throughout the past year. I didn't sell or buy on either of the dips. I am a poor bastad and will not let go. Hoping to see at 50% dilution.

Skadden has the best man on the job that is in the industry for that matter. I hope that he proposes one of his notorous packages he is known for in BK's.

GLTA!

your e-trade is broken.....

http://www.kccllc.net/documents/0911233/0911233100618000000000010.pdf

Agree.

500m compared to 750m. I would go with 500m just sounds like greed on the thier side.

Chemtura Corp. (CEMJQ) submitted a Chapter 11 plan that would repay in full the chemical company's lenders and unsecured creditors and allow current shareholders to keep a small slice of the company's equity.

The plan, filed with the U.S. Bankruptcy Court in Manhattan, would cut Chemtura's debt load nearly in half to $750 million from $1.37 billion and allow the company to emerge from Chapter 11 protection later this year.

"The filing of our plan is a significant milestone in the Chapter 11 process, demonstrating Chemtura's progress toward emerging as a stronger leaner global enterprise," Chemtura Chairman and Chief Executive ...

OK let me see if I undderstand this right.
If we go with the current plan the was submitted on the 17th Equity is only getting 5% and the company would still be in debt of 750 mil.


Now if equity can come up with plan to pay the unsecured debtors in full which is priority 1 for either side. But from whjat I just read in the transcript the equity would only have 500 mil in debt.

I maybe wrong here or mis-understood something. I guess this is why the Judge Gerber denied the POR that was submitted.

How hard would it be for equity and UBS to come up with the extra 500 mil?

Good read... I think Goffman and something up his sleeve and it maybe for the better for everyone.

When do you think we will see the Skadden POR? I would have thought that they would have had put a package together prior to all this.

Goffman explaining what he does best.

http://www.deallawyers.com/nonMember/2009_02_18_transcript.htm

I know this is old but a good read.

http://www.chemturacommittee.com/2010_01_26_Transcript.pdf

pages 22-29.

http://online.wsj.com/public/resources/documents/richards_letter.pdf

Thank god we have Gerber over the Delaware judge which has destroyed VSTNQ shareholders.

Here is a good read...

http://www.omm.com/files/upload/OMM-Client-Alert-Bankruptcy-Rule-2019-March-2010.pdf

Willing to bet we don't get an agreeable POR until beginning of August or late July. The parties are doing good business and negotions are on the table. This will go back and forth a few times until agreed upon by all parties.

My guess we may see between 65%-75% dilution when all said and done.

gayage!

10 min. till open. And asking price on TD is .83 WTF...

http://www.cnbc.com/id/37771731

Well I believe there should be some sort of news today or tomorrow regarding the delays on the POR as the last PR said we should see something on the 17th. Post an update for us already. Why do we have to scrumage through court documents. Geez...


People getting shaky trigger fingers...

No matter to me riding free shares only 3500 but still free since .04. Wish I had bought more in past. GLTA

Equitization:
Using various benchmark return vectors, one
can construct an orthogonal basis for a portfolio’s
returns.9 The portfolio can then be characterized as a
sum of components along (or exposures to) the orthogonal
basis vectors.
Consider a two-dimensional decomposition. The
expected return of the chosen benchmark can be used as
the first basis vector and an orthogonalized cash return as
the second. The expected return of a beta-neutral portfolio
is independent of the returns of the chosen benchmark.
That is, its returns are orthogonal to the returns of
the benchmark, and can therefore be treated as being
equivalent to an orthogonalized cash component. In this
sense, the beta-neutral portfolio appears to belong to a
completely different asset class from the benchmark. It
can be “transported” to the benchmark asset class by
using a derivatives overlay, however.
A long-short portfolio can be constructed to be
close to orthogonal to a benchmark from any asset class,
and can be transported to any other asset class by use of
appropriate derivatives overlays. But because long-short
portfolios comprise existing underlying securities, they
inhabit the same vector space as existing asset classes;
they do not constitute a separate asset class in the sense
of adding a new dimension to the existing asset class
vector space.
Some practitioners nevertheless treat long-short
portfolios as though they represent a separate asset class.
They do this, for example, when they combine an optimal
neutral long-short portfolio with a separately optimized
long-only portfolio so as to optimize return and
risk relative to a chosen benchmark. The long-only
portfolio is in effect used as a surrogate benchmark to
transport the neutral long-short portfolio toward the
desired risk and return profile.

http://en.wikipedia.org/wiki/Long/short_equity

Would have thought when the gates opened this morning that there would be some higher volume. The last minute get them while you can. But pretty stagnant today. Tomorrow we should see some movement. People just sitting tight and awaiting for a PR.

9:45 am with courts start...
http://www.nysb.uscourts.gov/calendars/reg.pdf

We shall see the outcome later today in court documents. I hope...

Crossing fingers for POR today been a long ride. Still holding my free shares

IS thios the same UBS?

http://finance.yahoo.com/news/Swiss-parliament-clears-way-apf-3625632074.html?x=0&sec=topStories&pos=7&asset=24d6df2264929f0ca023bc83edb1740a&ccode=rd

Gerbers schedule for the week...

http://www.nysb.uscourts.gov/calendars/reg.pdf

Thanks for the info.... hard to keep up on the board so much posting here.

When do we hear about the 15 holes drilled back in May?

KAT Exploration has accepted the drill contract tender from Cabo Drilling to initiate a drill program of its Handcamp property in Newfoundland during the second week of May 2010. KAT plans to drill a minimum of 15 holes for a minimum of 1200 meters. However, if drilling results continue to prove successful the number of holes and meters will be extended to determine the significance of the discovery.

Question is: has the drilling truely started and when will we see results of the findings?

http://www.kccllc.net/documents/0911233/0911233100614000000000005.pdf

Does this me POR will not be until July 13th or 14th?

USC § 328. Limitation on compensation of professional persons

(a) The trustee, or a committee appointed under section 1102 of this title, with the court’s approval, may employ or authorize the employment of a professional person under section 327 or 1103 of this title, as the case may be, on any reasonable terms and conditions of employment, including on a retainer, on an hourly basis, on a fixed or percentage fee basis, or on a contingent fee basis. Notwithstanding such terms and conditions, the court may allow compensation different from the compensation provided under such terms and conditions after the conclusion of such employment, if such terms and conditions prove to have been improvident in light of developments not capable of being anticipated at the time of the fixing of such terms and conditions.

Why has BVIG drop .46 today?

http://finance.yahoo.com/q?s=BVIG.OB