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Key LyondellBasell Creditors Back Reorganization Plan

10:59 PM MST | December 28, 2009 | Lindsey Bewley

A majority of LyondellBasell’s secured debt holders have agreed to convert about $18 billion in senior and bridge debt into common equity under the agreement. The company also says it has filed a motion with the U.S. Bankruptcy Court seeking settlement of claims against senior lenders brought by unsecured creditors...

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