Chemtura Ch. 11 Plan OK'd Despite Equity Holder Beef
Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York on Thursday issued an 82-page order approving the plan, which seeks to pay back nearly all creditors in either cash or stock and would cut the company’s debt in half.
The equity holders’ committee had objected to Chemtura’s roughly $2 billion valuation of itself,...
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