Citgo Says Lyondell Snubbing $6M In Claims

Law360, New York (April 14, 2010, 4:50 PM EDT) -- Citgo Petroleum Corp. and other companies have balked at Lyondell Chemical Co.'s proposed cure costs, accusing the bankrupt chemical company of not ponying up more than $6 million in claims.

Houston-based Citgo filed its objection Tuesday in the U.S. Bankruptcy Court for the Southern District of New York, alleging that Lyondell affiliates Equistar Chemicals LP and Houston Refining LP are trying to illegally assume contracts with Citgo without paying certain debts and that they're being too vague in identifying the contracts.

Citgo alleged that it had...
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