Chemtura Files for Bankruptcy

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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