Replies to post #1683 on Chemtura Corp (fka CHMT)

[MONEYMADE]

GUYS READ THE CH.11 FILINGS: GOOD STUFF>>>> http://www.kccllc.net/documents/0911233/0911233090318000000000027.pdf

8. For the year ending December 31, 2008, the Company’s consolidated net sales for
2008 were $3.5 billion and generated a gross profit of $736 million. In 2007, the Company’s
consolidated net sales were $3.7 billion and generated a gross profit of $864 million. In 2006,
the Company’s consolidated net sales were $3.5 billion and generated a gross profit of $831
million. As of the year ending December 31, 2008, the Company had approximately $3.1 billion
in assets and $2.6 billion in liabilities on a consolidated basis. The Company employs more than
4,700 full-time employees.
9. A confluence of events has led to the filing of these chapter 11 cases. As
discussed in more detail in the First Day Declaration, the Company operates in a highly
competitive industry that is in the midst of a sustained global recession that has caused business

[MONEYMADE]

I like this part: "The Debtors represent that they have sufficient availability of funds to pay the
amounts described herein in the ordinary course of business by virtue of cash reserves, expected
cash flows from ongoing business operations and anticipated access to debtor-in-possession
financing. Concurrently with the filing of this motion, the Debtors have filed a motion seeking
approval of a debtor-in-possession financing facility in an amount up to $400 million with
Citibank, N.A., as initial issuing bank and administrative agent for the Debtors’ proposed
postpetition lenders. Also, under the Debtors’ existing cash management system, the Debtors
represent that checks or wire transfer requests can be readily identified as relating to an
authorized payment made to an Authority. Accordingly, the Debtors believe that checks or wire
transfer requests, other than those relating to authorized payments, will not be honored
inadvertently and that all applicable financial institutions should be authorized, when requested
by the Debtors, to receive, process, honor and pay any and all checks or wire transfer requests in
respect of the Taxes and Fees"