Dang, looks like Hartland sold all:

http://www.mffais.com/cem

I have a small brain, Wall. I don't see how that would change what I said about the possibility of a 100% debt for equity swap with creditors, and being able to carry forward the nol's.

Not bashing by the way. I believe there will be equity for the common shareholders when this is over with. Just trying to look at all possibilities.


From the court docs, no section 382 limitations apply if:

At least 50% of the stock in the corporation, after the ownership change, is owned by existing shareholders, creditors that held debt of the corporation for at least 18 months prior to announcement of the bankruptcy case, or ordinary business creditors.

Not entirely true Askwhy. It's 50% of existing shareholders OR creditors, not just shareholders.

From the court docs, no section 382 limitations apply if:

At least 50% of the stock in the corporation, after the ownership change, is owned by existing shareholders, creditors that held debt of the corporation for at least 18 months prior to announcement of the bankruptcy case, or ordinary business creditors.

In theory, that means they could swap all debt for equity with the creditors, and carryforward the NOL's (since the creditors would own 100% of 'new' stock).

I don't believe this will happen, but it is a possibility.

Thanks ontchem, that's great information. Really appreciate it.

Thanks for your input ontchem. Can you tell us whether or not Chemtura stock is offered as an option in your 401k plan?

I thought that it used to be, but then when the company entered bk it was removed as an option.

Thanks again. Having input from Chemtura employees is invaluable when attempting to 'connect the dots'.

The way I see it, the 'commons being canceled' topic SHOULD be the main topic being discussed each and every day until the POR is released. Why wouldn't it be?

Cowboy, if you're referring to the Hercules that Rogerson sold to Ashland, they were not in BK.

Another Hercules is though, Hercules Chemical. See blurb about them here:

http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=MSFT:US&sid=a_w8BahLV0bY

Please say you're kidding. The thought of having to wade through dozens of posts from the momo crowd that say nothing more then WEEEEE! and TO DA MOON! is making me slightly nauseous.

I don't have much time now, I'll write more later. I paid for 1/2 hour of a corporate bk lawyers time last week (friend of a friend, said he cut me a deal on his rate...note to self, should have been a corporate bk lawyer).

Quickly on two points, it's not the judges decision on whether or not the common shareholders get anything. Also, only part of the company being in bk is NOT a reason for the commons surviving.

The people on this board are so knowledgeable that someone will probably address these issues before I have time to write about them later! If so, that's great, if not...I'll give some more details from that meeting when I can.

Trian bought about 10,000,000 shares around $11 a share, and hasn't sold any yet. Led by Nelson Peltz, who is ruthless and hates to lose money. Also led by Ed Garden, who was on the board of Chemtura. They knew BK was a probability early on, and they held their shares. If anyone knows the companies plans and potential, it's these guys.

Some other large institutional holdings, some smallish institutional buys since BK.

Yep. I know a lot of people here make that in one uptick, but for me, that's not bad for a day's "work"!

Thanks Estimator, I got 50k shares at .67. Looks like the chart was right again (at least based on today's action). I'm no chartist, but it sure has helped me average up since the price based around .22.

I'm now officially out of investment money, so I'm going to buckle up and enjoy the ride. If it goes where I think it's going to go, count me in for Cabo. First round of drinks on me.

Thanks for everyone's DD, and for making this the best board on IHUB.

Thanks, I believe the chart has been pretty accurate predicting support levels on the last two runs.

Estimator, where does the chart indicate support? Thanks...

Hello all. At what point would options be offered on CEMJQ? I'm wondering what the requirements are, i.e. does the stock have to be listed on a certain exchange, etc. Just curious. Thanks everyone.

Debt for equity is certainly a possibility here, MC, but I sure hope that's not what we end up with. That's more than likely not good news for us common share holders. Come on asset sale!

Congrats on your new addition, and as always, thank you for all of your DD. It is very much appreciated.

I went to Chemtura's website this morning and signed up to have the end of day stock quote sent to my phone. When I received it this afternoon, I noticed that the symbol was still CEM, and the exchange was listed as NYSE. All other information was correct (volume, high, low, etc).

I just found it curious they didn't feel the need to change those two pieces of information. It may be a minor detail that means nothing, or maybe an oversight on their part. Or could it mean they know the move to the pinks is temporary? Interesting huh?

.47/.48

I've been struggling with why Citi would sell their shares. We don't know the exact dates that they bought and sold, but we can narrow it down to a three month period, and it looks like they sold at a loss. You would think that Citi would know the situation at cemjq more than any other institution since they provided the dip financing. Because of this, I considered Citi dumping the stock a bigger negative than the other firms that sold.

However, today I looked at the other stocks that Citi bought and sold as of 6/30 on Mffais, and there are 3002 of them (which is a lot compared to other institutional activity that I've looked at). Then I looked at their sells, and it looks to me that they sold their entire positions in all of the bankrupt stocks that they had.

Based on this, I'm starting to think that this may just be a case of the right hand not knowing what the left hand is doing. Citi is a huge company, and I wouldn't be surprised if the group responsible for making the investment decisions did not even take into account that another Citi group made 400 million available for cemjq. They may not have even been aware that they did it. The institution manager may have just made a blanket decision to sell all bk stocks without looking deeper at each one.

The more I look at it, the more plausible I think that scenario is. I no longer think of Citi selling their shares as a big negative. Of course, it would be better if no one sold, but I think in this case we can chalk it up to an across the board decision to sell all bk holdings and not read anymore into it.

Any thoughts/comments would be appreciated...

Not a dumb question at all CW. It means they put a for sale sign on it, and sent the books out to prospective buyers for examination.

Do you have your filters enabled?

http://investorshub.advfn.com/boards/filters.asp

Find short information here:

http://shortsqueeze.com/?symbol=cemjq&submit=Short+Quote%99

Debt for Equity swap turned down in March.

Just going through old news and court documents, and thought this was interesting. Company proposed recap plan that would have included issuing of more common shares, creation of preferred shares, and issuing of warrants. Proposal was not approved by all noteholders, and chapter 11 followed.

http://www.bowater.com/media/latest-news.aspx?id=636&detail=true&reqid=1266026

I agree with you Turbosig, I'm very surprised to see it down for this long. Just for kicks I ran a 'ping' script all night to see if it ever responded. Never did. Don't know what to make of it, but it's very strange.

Can someone post current level 2? I'm having some technical difficulties...thanks guys.

Agreed - EOM

If this is what he's talking about, I don't see how he can conclude the restricted stock and stock options are without a doubt the current stock. It's possible that it could be stock of the newly created company. Tell me if I'm reading this wrong, or reading the wrong thing.

I'm long and betting against the commons being canceled for a number of reasons, but I don't believe we can draw a conclusion strictly from the EIP.


3. Notwithstanding anything contained in the Motion, the board of directors for reorganized Chemtura Corporation (the Reorganized Board”) shall determine the form of consideration to be received by eligible employees pursuant to the Emergence Incentive Plan.

Such consideration may include restricted stock, stock options and/or cash at the sole discretion of the Reorganized Board. In addition, to the extent compensation awarded pursuant to the
Emergence Incentive Plan includes a combination of restricted stock units and options, the ratio of value between restricted stock units and options shall be determined by the Reorganized
Board in its sole discretion.

The vesting schedule for any restricted stock or options distributed to eligible employees pursuant to the Emergence Incentive Plan shall be also be determined by the Reorganized Board in its sole discretion.

http://www.kccllc.net/documents/0911233/0911233090728000000000023.pdf

Status of equity committee? Anyone know offhand if the court has decided whether or not to appoint an equity committee? I'll look through the court docs later if I have to, but wanted to ask first in case anyone knows - thanks!

Thanks hardasset...EOM

Anyone know about their ESOP? I seem to remember a post a while back that said there was information released by the company about their ESOP, but I can't find the post. I've looked through the filings and I don't see anything there either.

Does anyone remember offhand what the information was? It's typical to put a hold on the ESOP while in BK proceedings, so I was assuming that's what it was, but we all know what happens when one assumes...! Thanks!

FYI - the meeting has been moved to 7/8.

http://www.kccllc.net/documents/0911233/0911233090616000000000003.pdf

Excerpt:

PLEASE TAKE NOTICE that the meeting of creditors, previously scheduled for June 17, 2009 at 2:30 p.m. (Eastern Daylight Time),2 has been rescheduled to July 8, 2009 at 2:30 p.m. (Eastern Daylight Time) at the Office of the United States Trustee, 80 Broad Street, 4th Floor, New York, NY 10004.

Just wanted to say thanks to Lowman for starting this board, and thanks to all of the contributors. I'm a 'newbie' to investing in individual stocks, and have a heck of a lot to learn. I can already tell that the more I learn, the more I'm going to realize that I don't know :). Thanks again...

Questions for more experienced investors about the Transfer Agent. Using Google I found that the TA for ALRY is this company:

www.transferonline.com

I called them up and asked if they could tell me anything about the share count (number of shares outstanding, if it increased since x date, anything). The person at TO said they never give out any information on share count for 'any of the companies they are handling stock for', and that I'd have to contact ALRY to get that information. She was rather short with me, and I could tell she didn't really want to entertain questions.

So my questions are:

what info is the TA suppose to give out? I thought she was going to tell me she has not been authorized by ALRY to release any share info, but she basically said they never release share info for any company.

Does it matter if I'm a shareholder (which I am in ALRY), or not?

If they have been 'gagged', are they entitled to give you some information if you know how to ask for it?

Thanks for any input.

I did. Been watching since January. I like the fundamentals and the insider buying. This quarter should be a good one revenue wise if they hit the dispensing location numbers they mention in the 10-Q, plus the potential of the new agreements/programs. Cash burn a concern though. The next six weeks will be interesting.