Chemtura Corp (fka CHMT)

[novachem]

The way I see it, the name of the game becomes getting votes if both POR's are presented. It become too extreme either we win really really big or lose all.

1) As EC mentioned about 200 million over payment to bondholder etc, how is this going to be resolved? is it gonna flow to shareholders or the debtors just add more liabilities?

2) Why EC is so confident given the Goeffman reputation unless they think they win? is it because they got enough financing? Most of the BK's EC fights to get more value to shareholders by fighting against the valuation and in our case I am sure they could get us one dollar around through negotiations, instead they want to present their POR, fight for it. This game is getting very interesting.

3)Debtors are adding more stakeholders to vote for POR, why? Their game is obvious, they don't get our votes cause we align with EC (most of us bought post bk) so they decided to divide us post bk and pre bk? assuming they get few pre bk votes?

At the end of the day, it is not going to be easy for debtors either because both (Debtors and EC) POR's will give 100% to all creditors and other liabilities. Whose POR will win? I guess the time will tell

Eachholder of an Interest shall receive, in full and final satisfaction of such Interest, on the
Effective Date, one of the following treatments:

A. to the extent that Class 1213a for Chemtura Corporation votes to
accept the Plan, on the Rights Offering Record Date, each holder of
a share of prepetition common stock or equivalent Interest in Chemtura
Corporation shall receive its Pro Rata share (determined with respect to all
holders of Interests in Class 1213a) of 5% of the New Common Stock, subject
to dilution for the New Incentive Plan, and its Pro Rata share of the Rights
to participate in the Rights Offering; and

B. to the extent that Class 1213a for Chemtura Corporation votes to reject the Plan,
each holder of an Interest shall receive its Pro Rata Shareshare (determined with
respect to all holders of Interests in Class 1213a) of value available for
distribution after all Allowed Unsecured Claims have been paid in full in
accordance with the terms of this Plan and the Disputed Claims Reserve has,
Diacetyl Reserve and Environmental Reserve


My request to all: Please be courteous, some of the folks are still own a lot and we all know the game and don't need to bash or pump everyday. Is it really worth it?