Chemtura Corp (fka CHMT)

[Madclown]

Oildale Disputed Claims Reserve reduced from $14.49 million to $3.87 million, thus freeing up $10.6 million for distribution in accordance with the disputed claims reserve order.

If memory serves, back in November, the claim was reduced by approximately $1.7 million and that amount was swept directly into the Segregated Distribution Reserve which was then distributed to CEMJQ shareholders. If the full $10.6 million is distributed to the Segregated Distribution Reserve as before and as opposed to 50% flowing first to the "Non Objecting Creditor's Reserve" then we should see a distribution from this event alone that has an economic value of about $0.057 per old CEMJQ share assuming that 85% of the reserved amount was in Newco stock (as was most of the disputed claims reserve) and assuming a CHMT price of the present day $18.20.

The next distribution date is expected to occur on or around July 8, 2011.

http://www.kccllc.net/documents/0911233/0911233110520000000000001.pdf