Replies to post #35263 on Chemtura Corp (fka CHMT)

[Xenn]

I don't have a figure pertaining to the foreign sub debt load.

However, I do know that 40 million of the DIP financing was ear marked for the foreign subs.Whilst the the foreign subs may not be directly under the bk canopy, they are certainly benefiting from it via access to additional funds.

This voluntary decision to enter bk was the tonic that Chemtura needed to steady their gait. The credit crunch made it impossible for them (and many other viable companies) to maintain operations.

As such, Rogerson choose the optimum course of action that was available at the time (a strategic move that will pay off exponentially down the road). The other alternative would have entailed Chemtura being sold off at fire sale prices...not the road a man of Rogerson's caliber would view as a "good strategic move".

It's all about the strategy and in IMO, Rogerson executed a strategic masterstroke that showcased his sharp acumen (the same acumen that rescued Hercules from the abyss of oblivion).

Folks, we're in good hands here...don't sweat it (too much:)