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Chemtura Postpones Target Date for Bankruptcy Exit

10:05 AM MST | December 17, 2009 | Nancy Seewald

Chemtura says it plans to emerge from bankruptcy in the summer of 2010. The exit date is later than previously estimated in order to allow time to process the more than 14,000 claims it has received, the company says. Chemtura filed for Chapter 11 bankruptcy protection in March as sharp demand declines drained liquidity and cash from the company. "Chemtura has met numerous business milestones during the Chapter 11 cases, demonstrating operational credibility and maintaining an aggressive Chapter 11 timetable," the company says. The additional time...

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