Chemtura Stockholders Want More Say In Ch. 11

Law360, New York (October 19, 2009, 1:14 PM EDT) -- Shareholders of Chemtura Corp. are urging the bankruptcy court to appoint a committee of equity holders amid fears the chemical company’s stock will be canceled in restructuring.

On Friday scads of letters implored Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York to designate an official committee to represent the company’s stockholders, arguing that Kirkland & Ellis LLP, restructuring counsel for Chemtura, is not adequately protecting their rights.

Stockholders sent 16 letters claiming that Chemtura’s established value and resurgent...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.