Chemtura Corp (fka CHMT)

[local]

One battle at the confirmation hearing will be valuation.

We know that Apollo Blackstone (and others) were interested in acquiring the chemtura in 2008. Did they make a bid? We do'nt know, but Andre Danesh wrote a letter to the court mentioning the $9 a share

http://www.kccllc.net/documents/0911233/0911233090601000000000024.pdf

What we do know is that a Keyblanc research report valued the break-up value of chemtura at $5.65 on Jan-2008. The bondholders and creditors are saying the company is now insolvent and they are just giving a gift to the shareholders by offering them 5 % of the new stock. It is up to the EC to show the true value.

http://www.streetinsider.com/Downgrades/KeyBanc+Downgrades+Chemtura+%28CEM%29+to+Hold/3284740.html