Lyondell Claims Interplastic Owes $2M

Law360, New York (December 23, 2010, 5:49 PM EST) -- Lyondell Chemical Co. has accused specialty chemical maker Interplastic Corp. of unlawfully refusing to pay $2 million in debt the newly solvent company claims it is owed under contracts forged prior to its January 2009 bankruptcy filing.

In an adversary complaint launched Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Lyondell — which emerged from Chapter 11 protection in April — claimed Interplastic owes it $545,000 for petrochemicals purchased before Lyondell filed for bankruptcy, as well as $1.5 million in damages...
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