Chemtura Corp (fka CHMT)

[wave runner]

In terms of the coursed of events to shareholders. Not only do I feel good about the outcome of the vote from an ethical standpoint, I also think it very much sets the stage for a better outcome to us (you wouldnt know it but we own this company!).

The next important thing to take place will be how Gerber responds to what is in fornt of him. He could push forward the POR of the debtors but he could also radically change the outcome to shareholders on a percentage basis AND he could appreciate our view that the valuations from the debtors are absurd.

The "sealing" of the Skadden objection can be for alot of reasons including things that Rogerson may have said during his roadshow on the new debt and equity like the company might not have had to file in the first place and was a casuality of financing difficulties during the 2008 flushathon.

One interpretation of todays large buying could be that the debtor group is not feeling so strongly about their position right now and are looking to hedge by buying equity, its likely why you see folks such as Interlachen in both securities.

I think we will all look back on today as a big win and I sincerely hope we have enough of this company to choose new directors and send ROgerson packing (without a parachute)