Chemtura Corp (fka CHMT)

[novachem]

How absurd: POR:

Estimated mid-point value of Distributable Value in Exhibit F is $2.269 billion. If, for
example, shareholders voted to reject the Debtors’ Plan, and later recovered 9% of that
amount (as the Disclosure Statement suggests they might), shareholders would receive
$204.2 million. In contrast, if shareholders voted to accept the Debtors’ Plan, the 5% of
New Common Stock that they would receive would have a value of only $67.7 million,
far less than what shareholders might receive if they rejected the plan.

http://www.kccllc.net/documents/0911233/0911233100716000000000022.pdf