Attached files
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| EX-10.1 - LANXESS Solutions US Inc. | v191455_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): July 21, 2010
Chemtura
Corporation
(Exact
name of registrant as specified in its charter)
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Delaware
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1-15339
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52-2183153
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(State
or other jurisdiction
of
incorporation)
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(Commission
file number)
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(IRS
employer identification
number)
|
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1818
Market Street, Suite 3700, Philadelphia, Pennsylvania
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19103
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199
Benson Road, Middlebury, Connecticut
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06749
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(Address
of principal executive offices)
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(Zip
Code)
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(203)
573-2000
(Registrant's
telephone number, including area code)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
1.01 Entry Into a Material Definitive Agreement.
As previously disclosed, on March 18,
2009, Chemtura Corporation (the “Company” or “Chemtura”) and certain of its
subsidiaries organized in the United States (collectively, the “Debtors”) filed
voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code
in the United States Bankruptcy Court for the Southern District of New York (the
“Bankruptcy Court”).
As previously disclosed, on February 9,
2010, the Bankruptcy Court granted interim approval of an Amended and Restated
Senior Secured Super-Priority Debtor-in-Possession Credit Agreement (the
“Amended DIP Credit Agreement”) by and among the Debtors, Citibank N.A. and
other lenders party thereto. The Amended DIP Credit Agreement
provided for a first priority and priming secured revolving and term loan credit
commitment of up to an aggregate of $450 million. The Amended DIP
Credit Agreement closed on February 12, 2010 with the drawing of a $300 million
term loan. On February 18, 2010, the Bankruptcy Court entered a final
order providing full access to the Amended DIP Credit Agreement.
On July 21, 2010, the Company and the
parties to the Amended DIP Credit Agreement entered into Amendment No. 1 to the
Amended DIP Credit Agreement. The Amended DIP Credit Agreement was
amended to provide for, among other things, (i) the settlement of certain claims
against Bio-Lab, Inc. and Great Lakes Chemical Corporation relating to a fire
that occurred at a warehouse in Conyers, Georgia on May 25-26, 2004; (ii) the
sale of assets pertaining to the Debtors’ Sulfonate Business to Sonneborn
Holding, LLC; (iii) the settlement of certain claims relating to the asset
purchase agreement entered into by Chemtura and PMC Biogenix, Inc. prior to the
petition date; and (iv) the filing by Chemtura Canada Co./Cie of a voluntary
petition for relief under Chapter 11 of the Bankruptcy Code and commencing a
proceeding under the Companies’ Creditors Arrangement Act in Ontario,
Canada. A copy of Amendment No. 1 to the Amended DIP Credit Agreement
is attached hereto as Exhibit 10.1 and incorporated by reference
herein.
Item 9.01 Financial Statements and
Exhibits.
(d)
Exhibits
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Exhibit Number
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Exhibit Description
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10.1
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Amendment
No. 1 to Amended DIP Credit
Agreement
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Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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Chemtura
Corporation
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(Registrant)
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By:
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/s/ Billie S. Flaherty
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Name:
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Billie
S. Flaherty
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Title:
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SVP,
General Counsel &
Secretary
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Date:
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July
26, 2010
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Exhibit
Index
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Exhibit Number
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Exhibit Description
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10.1
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Amendment
No. 1 to Amended DIP Credit
Agreement
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