Chemtura Negotiates Deal To Reduce Antitrust Fines

Law360, New York (June 11, 2009, 12:00 AM EDT) -- Bankrupt chemical producer Chemtura Corp. has reached a settlement with the U.S. and Canadian governments that will reduce its outstanding antitrust fines from $18.5 million to about $11.6 million.

Under the settlement, which is still subject to approval from the U.S. Bankruptcy Court for the Southern District of New York, Chemtura will pay $10 million to the U.S., or allow the equivalent of a $16 million unsecured claim if that would provide a greater amount, and pay CA$1.8 million ($1.6 million) to Canada, or allow the...
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