Chemtura Files Reorganization Plan | June 23, 2010 Issue - Vol. 88 Issue 26 | Chemical & Engineering News
 
 
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Volume 88 Issue 26 | p. 22 | Concentrates
Issue Date: June 23, 2010

Chemtura Files Reorganization Plan

Bankruptcy Exit: Shareholders object and say they want a larger stake
Department: Business | Collection: Economy
News Channels: Analytical SCENE
Keywords: bankruptcy, reorganization, shareholders, creditors

Chemtura has filed a plan of reorganization with the U.S. Bankruptcy Court that is supported by bondholders and other creditors. However, shareholders say they are developing an alternate plan that would give them a greater stake in the reorganized company when it finally emerges from bankruptcy.

The Chemtura plan demonstrates the firm's progress to becoming "a stronger, leaner global enterprise," says CEO Craig A. Rogerson, calling it "a testament to the outstanding progress . . .

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