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...
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