technically correct, but IMHO they are not ready to file a POR until they get a better handle on the eviromental court issues and the diacetel exposure, so to expect a POR in 10 days or there abouts i think is un-realistic
On May 25 the company said "they are finalizing an agreement with an existing ad hoc committee of confidential terms that will allow Chemtura's largest bondholders to engage in direct negotiations with the company regarding the terms of a Chap 11 plan"
I don't believe that the terms and negotiations to bring all parties together will happen until they have a better understanding of the liabilities on the enviromental and diacetel liabilities, therfore the need to extend the exclusivity period.
Again JMHO
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