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LyondellBasell Industries
LyondellBasell Adds Holding Company to Chapter 11 Protection
May 10th, 2009
LyondellBasell Industries announced that LyondellBasell Industries AF S.C.A. has been voluntarily added to Lyondell Chemical Company's reorganization filing under Chapter 11 of the U.S. Bankruptcy Code to protect the European holding company against claims by certain financial and U.S. trade creditors. LyondellBasell Industries AF S.C.A. is a holding company incorporated in Luxembourg. It does not manufacture or sell products, and has no employees. LyondellBasell is exercising an option available under U.S. law to prevent creditors from enforcing guarantees by LyondellBasell AF S.C.A. for pre-petition obligations of LyondellBasell's U.S. businesses....
Source: Pharma Investments, Ventures & Law Weekly (2009-05-10)
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