sc13da.htm


 
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
 
SCHEDULE 13D
Under the Securities Exchange Act of 1934
 
(Amendment No. 1)*
 
----------
 
CHEMTURA CORPORATION
(Name of Issuer)
 
Common Stock, par value $0.01
(Title of Class of Securities)
 
163893100
(CUSIP Number)

Leif B. King
Skadden, Arps, Slate, Meagher & Flom LLP
525 University Avenue, Suite 1100
            Palo Alto, California  94301            
(Name, address and telephone number of person authorized
to receive notices and communications)
 
                 November 10, 2010                  
(Date of event which requires filing of this statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the following box. 9
 
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See Section 240.13d-7 for other parties to whom copies are to be sent.
 
 
*
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. (However, see the Notes.)
 

 
 
 
 

 
PAGE    2    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Strategic Value Partners, LLC
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
OO

 
 
 

 
PAGE    3    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
SVP Special Situations LLC
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
OO

 
 
 

 
PAGE    4    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Strategic Value Master Fund, Ltd.
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
WC
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Cayman
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
OO

 
 
 

 
PAGE    5    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Midwood, LP
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
PN

 
 
 

 
PAGE    6    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Midwood Holdings, LLC
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
OO

 
 
 

 
PAGE    7    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Victor Khosla
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
United States
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
IN

 
 
 

 
PAGE    8    of    10    PAGES
  
     
1
NAME OF REPORTING PERSON
Strategic Value Special Situations Master Fund, L.P.
     
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(SEE INSTRUCTIONS)
(a) [  ]
(b) [X]
     
3
SEC USE ONLY
  
     
4
SOURCE OF FUNDS (SEE INSTRUCTIONS):
WC
     
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
[  ]
     
6
CITIZENSHIP OR PLACE OF ORGANIZATION:
Cayman
     
7
 
NUMBER
OF SHARES
BENEFICIALLY OWNED
BY EACH
REPORTING
PERSON
WITH:
SOLE VOTING POWER:
0
8
 
SHARED VOTING POWER:
0
9
 
SOLE DISPOSITIVE POWER:
0
10
SHARED DISPOSITIVE POWER:
0
     
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING
PERSON:
0
     
12
CHECK IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
[  ]
     
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11):
0%
     
14
TYPE OF REPORTING PERSON:
PN

 
 
 

This Amendment No. 1 to Schedule 13D amends the Schedule 13D originally filed with the Securities and Exchange Commission on October 8, 2009.
 
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
 
(a) and (b) On November 10, 2010 (the "Effective Date"), the Issuer and certain direct and indirect subsidiaries of the Issuer (collectively, the "Debtors") consummated their reorganization under chapter 11 of title 11 of the United States Code and the joint plan of reorganization of the Debtors (the "Plan") became effective.  Pursuant to the Plan, on the Effective Date, among other things, all of the outstanding shares of Common Stock, including those beneficially owned by each of the persons identified in Item 2, were cancelled.
 
(c) On November 10, 2010, all of the outstanding shares of Common Stock, including those beneficially owned by each of the persons identified in Item 2, were cancelled pursuant to the Plan.
 
(d) Inapplicable.
 
(e) On November 10, 2010, all of the outstanding shares of Common Stock, including those beneficially owned by each of the persons identified in Item 2, were cancelled pursuant to the Plan.  As a result, on November 10, 2010, each of the persons identified in Item 2 ceased to be the beneficial owner of more than five percent of Common Stock.
 

 
 
 

 
SIGNATURE
 
 
After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certifies that the information set forth in this Statement is true, complete and correct.
 
 
Dated: November 10, 2010

 
Strategic Value Partners, LLC
SVP Special Situations LLC
By:  Midwood Holdings, LLC
By:  Strategic Value Partners, LLC
By:  Victor Khosla, Managing Member
By:  Midwood Holdings, LLC
 
By:  Victor Khosla, Managing Member
   
   
By:  /s/ Victor Khosla                               
By:  /s/ Victor Khosla                               
Name: Victor Khosla
Name: Victor Khosla
   
   
Strategic Value Master Fund, Ltd.
Strategic Value Special Situations Master Fund, L.P.
By:  Victor Khosla, Director
By: SVP Special Situations LLC
 
By:  Strategic Value Partners, LLC
 
By:  Midwood Holdings, LLC
By:  /s/ Victor Khosla                               
By:  Victor Khosla, Managing Member
Name:  Victor Khosla
  
 
By:  /s/ Victor Khosla                               
 
Name:  Victor Khosla
Midwood, LP
  
By: Midwood Holdings, LLC
Midwood Holdings, LLC
By: Victor Khosla, Managing Member
By: Victor Khosla, Managing Member
   
By:  /s/ Victor Khosla                               
  
Name:  Victor Khosla
By:  /s/ Victor Khosla                               
 
Name:  Victor Khosla
   
Victor Khosla
  
   
By:  /s/ Victor Khosla                               
  
Name:  Victor Khosla