The pieces of the puzzle that we know...
Rogerson and the debtors stated that there may be recovery value for commons and that he wants all parties to come to a consensus that all will approve of in order to exit BK quickly...
The debtors want an exclusivity period where only they can file a POR without a competing POR from others...
Attorney's for the EC say that the debt can be financed with commons remaining intact...
NO wording in ANY recent documents or comments from the debtors that Chemtura is "hopelessly insolvent" and that there is no value to equity... not since before the EC approval... clear change in tone...
And now, the withdrawal of the motion against Skadden Arps representing the EC...
Of course, the facts that we already know that there is BIG TUTE money locked into CEMJQ (SVP on the EC with 21 mil shares) and UBS involved with prior talk of a possible rights offering...
The EC filing a motion saying they wish to cooperate with the debtors in response to their exclusivity motion, but that they have the right to disagree and object to an unsatisfactory POR from the debtors and submit their own POR after exclusivity period of the debtors...
I'm sure there is stuff I'm leaving out....
I just cannot fathom Rogerson pulling a fast one and short changing the commons when he knows the EC has big money and players willing to fight for fair value AT THE COST of Chemtura! When I add all this up, it convinces me that commons will have significant value after emergence, so I am holding all my shares that I have accumulated before BK filing and after, along with the millions held by the EC committee members! GO CEMJQ!
