This memo discusses the recent decision in the Chemtura chapter 11 proceedings adding to conflicting case law on the issue of whether creditors whose debt is repaid in bankruptcy are entitled to receive “make-whole” amounts or damages for breach of “no-call” provisions.  Although the bankruptcy court's decision is ultimately favorable to creditors asserting claims based on these types of provisions, the court’s discussion of relevant cases and its reliance on the debtors’ solvency in reaching its conclusion highlight potential issues for creditors asserting similar claims in insolvent debtor cases.