Replies to post #64266 on Chemtura Corp (fka CHMT)

[chem8]

Are we? I thought SVP retained (and is also paying) Skadden? Maybe I'm wrong though.

[jaxstraw]

Third Supplement to Declaration of Jay M. Goffman in Support of Application for Entry of an Order Under 11 U.S.C. §§ 328(a) and 1103(a), Fed. R. Bankr. P. 2014 and LBR 2014-1 Authorizing the Employment and Retention of Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates as Counsel for the Official Committee of Equity Security Holders, Nunc Pro Tunc to January 7, 2010
7/26/2010 Doc #3381

http://www.kccllc.net/documents/0911233/0911233100726000000000004.pdf

It's a formality that keeps getting extended out but as soon as the court hears this, everything Skadden does after 1/7/10 will be footed by the company ( meaning equity). There were objections but they have been dropped so all it needs is the Judge signing off.

I do believe SVP will be paying the tab up until Jan 7 though, and that's not going to come cheap. Factor that into the cost of their shares also. 4-5 months of Skaddens legal fees is pretty steep.