Chemtura Files Ch. 11 Plan With Creditors' Support

Law360, New York (June 18, 2010, 4:43 PM EDT) -- Bankrupt chemical company Chemtura Corp. has filed a plan of reorganization with the support of its official committee of unsecured creditors and an ad hoc committee of the company’s bondholders.

The specialty chemical maker said the plan of reorganization, filed Thursday along with a related disclosure statement in the U.S. Bankruptcy Court for the Southern District of New York, has the potential to satisfy all creditors' claims in full while offering value to equity holders.

According to the disclosure statement, the plan allows Chemtura to emerge...
To view the full article, register now.