Lyondell Faces Objections Over Reclamation Claims

Law360, New York (May 26, 2009, 12:00 AM EDT) -- BASF Corp., ConocoPhillips Co. and dozens of other companies have objected to Lyondell Chemical Co.'s plans to pay reclamation claims submitted in its Chapter 11 case, including its decision that some companies are entitled to recover nothing.

More than three dozen companies filed objections in the U.S. Bankruptcy Court for the Southern District of New York before Tuesday's deadline for objections, including some companies that stand to lose millions.

ConocoPhillips had submitted two reclamation claims, including one for $22.9 million, but Lyondell determined the company was...
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