IHS Chemical Week

People & Business :: Companies

Chemtura Gains Court Approval for Credit Access

2:28 PM MDT | April 29, 2009 | Vincent Valk

The U.S. Bankruptcy Court for the Southern District of New York has granted final approval of Chemtura’s $400 million debtor-in-possession (DIP) credit facility, allowing the company access to the facility. The financing will allow Chemtura to continue to operate its business as bankruptcy proceedings continue. The company also received approval of an amendment to the DIP facility that allows it to provide liquidity to foreign subsidiaries, if needed. "We are pleased to have received final Court approval of our DIP credit facility and the important...

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