News Focus
News Focus
icon url

rjhstock

05/17/10 10:26 PM

#58848 RE: local #58847

That is AT MINIMUM 50% institutional holdings according to your list. I'm sure it is closer to 70-80% plus by now.


(....psssst........ follow the money.......)
icon url

oaps222

05/17/10 11:44 PM

#58849 RE: local #58847

Thanks for the information. You are always quiet, but are sharing valuable information with us every now and then. Wish you the best luck!!
icon url

oaps222

05/18/10 12:29 AM

#58850 RE: local #58847

Gentlefolk,

It is very interesting!! Those eight (Midwood Holdings, LLC, Midwood, LP, Nasgovitz, William J., Strategic Value Partners, LLC, Strategic Value Special Situations, Master Fund, L.P., SVP Special Situations LLC, and Victor Khosla) are all related to the SVP, which is one of our EC members.

Does it mean that the SVP and its associates are holding more than 40% of the Chemtura common shares? Was that the reason that Mr. Jay Goffman (lead attorney for Skadden Arps, counsel for Equity Security Holders) confidently spoke, " ... We've already told the debtors' management that we're highly confident that we can refinance the entire capital structure, preserving the equity intact..."??? (See Post #57939 for details).

To try to get some connections, I revisited our old posts:

The Post #46227 by sometimes_right on October 29, 2009:

Victor Khosla owns 45.23% of Chemtura's common shares... along with the retail Chemtura Shareholders Alliance 23+ million shares... puts us over 50% ownership and able to control voting on corporate matters. IMO

http://www.sec.gov/Archives/edgar/data/1091862/000134100409002025/sc13d.htm

Victor Khosla, CIO and Managing Partner, Strategic Value Partners

Victor Khosla is CIO and Managing Partner of Strategic Value Partners, LLC (SVP), a leading global alternative investment firm focused on distressed/deep value and turnaround opportunities. Victor oversees a team of 167 professionals including 61 investment professionals with offices in Greenwich, London, Frankfurt, Tokyo and Delhi. SVP manages approximately $3.5 billion in distressed and deep value investments across a hedge fund strategy, a specials situations private equity strategy and a control-oriented private equity strategy. Prior to forming SVP in 2001, Victor Khosla had a history of successful investing in global distressed opportunities and in building and managing large global investment teams in credit and distressed investments. From 1999-2002, Mr. Khosla managed a $671 million fund that invested in distressed debt in Japan in a joint venture with Moore Capital Management, LLC. From 1998-1999, Mr. Khosla was President of Cerberus Capital Management, L.P., where he participated in the management of a $5 billion private investment fund focused on distressed assets and built the Japanese business. From 1993-1998, he was Co-Head of the Distressed Products Group at Merrill Lynch & Co. where he built and managed a premier distressed debt proprietary trading business with $2 billion in corporate and real estate investments and a team of 40 analysts and traders in New York, Tokyo, London and Hong Kong. Prior to his tenure at Merrill Lynch, Mr. Khosla held various positions at Citibank, Booz Allen Hamilton and General Motors. Mr. Khosla has a Bachelors in Commerce from Delhi University, an M.A. in Economics from Vanderbilt University and an M.B.A. from the University of Chicago.

And the Post #46229 by sometimes_right on October 29, 2009:

(edit) indeed AGGREGATE (too early in the morning, my bad)

Victor controls ALL of the entities in the filing, if I'm not mistaken. Read "Item 2" at bottom of document closely...

ITEM 2.

IDENTITY AND BACKGROUND

(a) - (c) This Statement is being filed by and on behalf of Strategic Value Partners, LLC (“Strategic Value Partners”), SVP Special Situations LLC (“Special Situations”), Strategic Value Master Fund, Ltd. (“Strategic Value Fund”), Strategic Value Special Situations Master Fund, L.P. (“Special Situations Fund”), Midwood, LP (“Midwood”), Midwood Holdings, LLC (“Midwood Holdings”) and Victor Khosla (Mr. Khosla together with Strategic Value Partners, Special Situations, Strategic Value Fund, Special Situations Fund, Midwood and Midwood Holdings, the “Reporting Persons”).

The principal business address of each Reporting Person is c/o Strategic Value Partners, 100 West Putnam Avenue, Greenwich, CT 06830.

Special Situations and Strategic Value Partners are Delaware limited liability companies and act as investment advisors to private funds and managed accounts over which they exercise discretionary authority (collectively, the “Accounts”). Special Situations is the investment advisor of, and exercises investment discretion over, Special Situations Fund, a Cayman Island limited partnership, which is an Account. Strategic Value Partners is the investment advisor of, and exercises investment discretion over Strategic Value Master Fund, a Cayman Island exempted company, which is an Account. Strategic Value Partners is also the sole member of Special Situations.

Strategic Value Partners is owned by Midwood Holdings, a Delaware limited liability company, and Midwood, a Delaware limited partnership. Midwood Holdings is the general partner of Midwood and Midwood Holdings is controlled by Victor Khosla. For additional information concerning Mr. Khosla, please see Schedule I.
http://www.sec.gov/Archives/edgar/data/1091862/000134100409002025/sc13d.htm

Although I am not providing any new information, it seems that things are connecting the way we have anticipated.
icon url

jaxstraw

05/18/10 12:50 AM

#58851 RE: local #58847

William J. Nasgovitz is the founder and president of Heartland Advisors.
icon url

Majic

05/18/10 3:25 PM

#58893 RE: local #58847

Thanks, local. Very interesting list.
I'm wondering if they're already majority shareholders...