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Chemtura Reorganization Plan Expected by June 17

10:16 AM MDT | May 26, 2010 | Vincent Valk

Chemtura expects to file its plan of reorganization by June 17, the company says. The company is currently in discussions with creditors and stakeholders regarding the final shape of the reorganization plan. The plan will then have to be approved by U.S. Bankruptcy Court for the Southern District of New York, where the case is being heard. The plan being discussed will provide payment for creditors "at or near the full value" of their claims, Chemutra says, and it may also provide some recovery for holders of common stock. Payment may be in cash or...

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