Replies to post #62473 on Chemtura Corp (fka CHMT)

[symmetric_prime]

I'm a bondholder and I agree with you. The bondholders should expect full recovery, but what is that? For the Great Lakes bonds that should be (per 1 thousand dollar bond) $1000 +$35 (or six months' interest that was never paid) + a small amount of Statutory interest for the use of $1035 by the company from June '09 until we exit bankruptcy. The other bonds should be reinstated and these bondholders should also be paid missing interest and statutory interest on missing interest payments; but they are not entitled to be paid their principal until it comes due in 2016 and 2023. Alas the bonds are trading at prices that suggest that the bondholders will get a significant cut in what rightfully belongs to stockholders.