Court Expunges $626M In Claims Against Lyondell

Law360, New York (January 13, 2010, 4:28 PM EST) -- A bankruptcy judge has expunged more than 770 claims totaling about $626 million against Lyondell Chemical Co., most allegedly filed against the wrong debtor.

Lyondell, the U.S. unit of Dutch petrochemical giant LyondellBasell Industries AG SCA, had challenged the claims in 10 separate omnibus objections in the U.S. Bankruptcy Court for the Southern District of New York, and Judge Robert E. Gerber granted the objections in separate orders Tuesday.

Of the total amount expunged, all but about $10 million came from unsecured claims, and about $600...
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