Thanks BBalls. Great find. I think our case mirrors Antelope Technologies perfectly (albeit based on limited info). The bottom line is that the Chemtura POR was certainly not in good faith and was clearly designed “to gain an unfair advantage in the shareholder litigation.” We all know that Chemtura is profitable (ignoring our beloved writedowns and restructuring costs) and spitting out cash (the best indicator of solvency). As such, there is very compelling evidence of an "absence of any clear need for financial reorganization."
When you talked to Skadden, did you mention about this case?
Judge Gerber stayed with the Chemtura case during the last 18 months, and most likely he wouldn't dismiss the case, but who knows. He may take a look at the case from different angles based on the development and on-going unfair/greedy approaches that the Debtors are taking.
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