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Chemtura Files for Bankruptcy

4:28 PM MDT | March 19, 2009 | Robert Westervelt

Chemtura says its U.S. operations have filed for Chapter 11 bankruptcy protection as sharp demand declines drained liquidity and cash from the company. Chemtura says it has received a commitment for up to $400 million in debtor-in-possession (DIP) financing from Citibank to fund ongoing operations, pending court approval. (Updated with details on asset sale and statement from CFO.)...

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