Lyondell Set To Exit Ch. 11, Offer Stock

Law360, New York (April 27, 2010, 11:26 AM EDT) -- At a hearing Friday a federal bankruptcy court approved Lyondell Chemical Co.'s reorganization plan and its $5.5 billion settlement of vast environmental liabilities with federal regulators, putting the chemical company firmly on the path toward emerging from Chapter 11 by the end of the month, after which it aims to take its stock public.

U.S. Bankruptcy Judge Robert Gerber on Friday signed off on the company's plan, under which Lyondell will emerge as a new company, Netherlands-based LyondellBasell Industries NV.

Luxembourg's LyondellBasell Industries AF S.C.A. will...
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