Replies to post #39952 on Chemtura Corp (fka CHMT)

[akswhy]

His asset sale comment is spot on, and after reading that, I was speculating about all those foreign law firms Chemtura has retained. Are they looking to offload their foreign operations? They would not need court approval for that.
Chemtura obviously has money to pay the bonds. But from where?
I kind of doubt they bonds would be this high if they were to cancel common and pay off bondholders with new equity. Chemtura has not submitted POR that would contain that. Otherwise, excuse me, that's insider info, or does that only apply to peons like us?
Would they refinance? Then why would the unsecured be at $80 considering refinance only delays debt?
Signs point to an asset sale, only question then would be is asset sale enough to keep common 100% whole or some dilution?

[fisherman2009]

There are many other options available besides an asset sale to pay off debt, a swap of debt for equity being just one of the options. The POR should give us some indication as to what means will be used to pay off debt. It's just a wait and see game from here on in, and saying that commons will not survive without an asset sale is a premature presumption. At one time I thought an asset sale was the most viable means for Chemtura to rid itself of debt, however now that Chemtura has become profitable the playing field has changed. Profitability gives them more options to work with. No one knows anything "for sure" right now, otherwise it would have already been recorded by the court. I think something will get leaked before the actual POR is released, however Rogerson thus far has given no indication that the other options are no longer being considered.