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Filing Details

Accession Number:: 0001405086-11-000108
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-02-28 20:41:43
Reporting Period:: 2011-02-25

Filing Date:: 2011-02-28
Accepted Time:: 2011-02-28 20:41:43
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1014669	Sterling Chemicals Inc	SCHI	Industrial Organic Chemicals (2860)	760502785

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1259927	Marc Lasry	C/O Avenue Capital 399 Park Avenue, 6Th Fl. New York NY 10022		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2011-02-25	500	$3.00	370,250	No	4	S	Indirect	SEE FOOTNOTES

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	SEE FOOTNOTES

Footnotes

The shares of Common Stock, par value $0.01 per share (the "Common Stock") of Sterling Chemicals, Inc. (the "Issuer") the disposition of which is reported in this Form 4 were held directly by Avenue Special Situations Fund V, L.P., a private investment partnership ("Spec V"), Avenue Special Situations Fund IV, L.P., a private investment partnership ("Spec IV") and Avenue-CDP Global Opportunities Fund, L.P. a private investment partnership ("CDP"). Avenue Investments, L.P., a private investment partnership ("Investments"), and Avenue International Master, L.P., a private investment partnership (collectively, with Spec V, Spec IV, CDP and Investments, the "Avenue Entities") also hold shares of Common Stock of the Issuer, but did not dispose of any of such shares of Common Stock in the reported transaction. (See Footnote #2 for continuation.)
The Reporting Person is (i) the Managing Member of Avenue Capital Management II GenPar, LLC, which is the general partner of Avenue Capital Management II, L.P., which is the registered investment adviser to each of the Avenue Entities and (ii) the Managing Member of each of the Managing Members of each of the general partners of the Avenue Entities.
The Reporting Person is deemed to be the indirect beneficial owner of the shares of Common Stock of the Issuer the disposition of which is reported in this Form 4, as well as of the shares of Common Stock of the Issuer reported as beneficially owned following the reported transaction, by reason of his ability to direct the vote and/or disposition of such shares of Common Stock, and his pecuniary interest in such shares of Common Stock (within the meaning of Rule 16a-1(a)(2) under the Securities Exchange Act of 1934, as amended) was a fractional interest in such amount. The Reporting Person disclaims beneficial ownership of any and all such amounts in excess of such actual pecuniary interest.