Lyondell Affiliate Battles $74M Glidden Claim

Law360, New York (February 14, 2011, 3:01 PM EST) -- A Lyondell Chemical Co. affiliate sought Monday to escape a bankruptcy court's order that may force the company to pay $73.5 million in environmental and other contractual obligations related to the decades-old sale of The Glidden Co.

A lawyer for Millennium Holdings LLC argued to Judge Miriam Goldman Cedarbaum in the U.S. District Court for the Southern District of New York that a bankruptcy judge should not have construed two sale-related agreements as a single executory contract, which forced Millennium to either perform on the contract...
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