FAQs


On March 18, 2009, Chemtura Corporation, and certain of its affiliates (collectively, the "Debtors") filed voluntary petitions (the "Chemtura Cases") for relief under chapter 11 of title 11 of the United States Code (the "Bankruptcy Code").

The questions and answers that follow provide general information concerning the Chemtura Cases, the Official Committee of Unsecured Creditors of Chemtura Corporation., et al. (the "Committee"), and various topics related to the Chemtura Cases and the Committee.

What is the Committee?

Pursuant to the Bankruptcy Code, the United States Trustee is authorized to appoint a committee of creditors holding unsecured claims as soon as practicable after the filing of a case. Generally, a creditors' committee is a group of general unsecured creditors (typically seven) appointed to represent, in a fiduciary capacity, the interests of all general unsecured creditors. In such role, creditors' committees act to protect and promote the interests of general unsecured creditors by, among other things, monitoring a debtor's business operations, investigating its business and financial affairs, and negotiating the terms of a plan of reorganization (a "Plan"). The overarching goal of a creditors' committee is to maximize value for general unsecured creditors.

In accordance with this authority, on March 26, 2009, the United States Trustee appointed the Committee.

What is the Committee's role in the Chemtura Cases?

Pursuant to the Bankruptcy Code, the Committee may: (1) consult with the trustee or debtor in possession concerning the administration of the Chemtura Cases; (2) investigate the acts, conduct, assets, liabilities, and financial condition of the Debtors, the operation of the Debtors' businesses and the desirability of the continuance of such businesses, and any other matter relevant to the Chemtura Cases or to the formulation of a Plan; (3) participate in the formulation of a Plan, advise those represented by the Committee of the Committee's determinations as to any Plan formulated, and collect and file with the court acceptances or rejections of a Plan; (4) request the appointment of a trustee or examiner under section 1104 of the Bankruptcy Code; and (5) perform such other services as are in the interests of the unsecured creditors.

Who represents the Committee?

The Committee retained Akin Gump Strauss Hauer & Feld LLP to act as its counsel.

Which Chemtura entities are in bankruptcy?

Main Debtor Chemtura Corporation
Case No. 09-11233 (REG)

Click here to view Debtors and case numbers.

Who is the United States Trustee?

The United States Trustee for the Chemtura Cases is Diana G. Adams. The Trial Attorney assigned to the Chemtura Cases is Susan D. Golden.

What role does the United States Trustee Play?

The United States Trustee Program is a component of the Department of Justice responsible for overseeing the administration of bankruptcy cases. For further details on the United States Trustee's role, please visit: www.usdoj.gov/ust/r02/index.htm.

Does the Committee represent individual creditors?

No. The Committee represents the interests of all unsecured creditors through oversight of and negotiations with the Debtors. Neither the Committee nor its counsel represent individual creditors that may have claims in the Chemtura Cases.

What is the deadline for filing proofs of claims?

On August 21, 2009, the United States Bankruptcy Court entered an order establishing October 30, 2009 as the Bar Date for the filing of proofs of claim against the Debtors in these cases. Click here to view the order.

Do I need to file a proof of claim?

If you believe that you or an entity you represent has a claim arising prior to March 18, 2009 against one or more of the Debtors, you may wish to file a proof of claim to protect your rights. You should consult your own counsel in deciding to file a claim in the Chemtura Cases. For additional information regarding proofs of claim, please refer to: www.kccllc.net/Chemtura.

Have the Debtors filed any Chapter 11 plan(s) or disclosure statement(s)?

The Debtors' Joint Chapter 11 Plan and Disclosure Statement were filed with the Bankruptcy Court on June 17, 2010. A Second Revised Joint chapter 11 Plan and Disclosure Statement was filed on July 20, 2010. To view these documents, please click on the Plan of Reorganization and Disclosure Statement link on the left side of the page.

How long will the Chemtura Cases last?

There is no specific time estimate for the Chemtura Cases.

How do I get responses to specific questions?

Please call 1- 866-277-8211 or email your questions to: chemturamail@akingump.com .

Who is the judge presiding over the Chemtura Cases?

The Chemtura Cases are assigned to the Honorable Robert E. Gerber, United States Bankruptcy Judge for the Southern District of New York.

For additional frequently asked questions regarding the Debtors, please visit the Chemtura website: www.Chemtura.com.