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Chemical Week Magazine :: Business & Finance :: United States/Americas

LyondellBasell Adds Holding Company to Chapter 11 Filing

8:13 AM MDT | May 4, 2009 | Ian Young

LyondellBasell has added its European holding company to its U.S. filing for Chapter 11 bankruptcy protection. LyondellBasell Industries AF (Luxembourg) has been added to the filing to protect it against claims by certain financial and U.S. trade creditors, LyondellBasell says. The holding company does not manufacture or sell products, and has no employees. Dineen: Developing a reorganization plan as part of the Chapter 11 process. LyondellBasell says it is exercising an option available under U.S. law to prevent creditors from enforcing guarantees by...

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