Chemtura Corp (fka CHMT)

[Madclown]

There is nothing to say other than we fought for an equity committee 3 times over 5 months and finally were successful. The EC got us a recovery, it wasn't as much as we wanted and it was predicated on a POR value that was heavily discounted to the market post- emergence, but we got a recovery at emergence nonetheless and have received additional recoveries since then and more payments are forthcoming. The Debtors have done a great job of settling disputed claims at levels that will provide for future payments to legacy shareholders and they have done it very swiftly considering the nature of the disputed claims.

At this point there is nothing to be gained from hand wringing or name calling because you can't go back and undo or relitigate the past. Love it or hate it, this is how Chapter 11 bankruptcy works in the U.S. It is not a perfect system but it beats most of the alternatives.