Lyondell Unit Loses Fight Over $74M Glidden Claim

Law360, New York (February 23, 2011, 4:38 PM EST) -- A federal judge Friday refused to overturn a bankruptcy court's order that may force a Lyondell Chemical Co. affiliate to pay $73.5 million in environmental and other contractual obligations related to the decades-old sale of Glidden Co.

Judge Miriam Goldman Cedarbaum of the U.S. District Court for the Southern District of New York affirmed Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York's “thorough” decision in a terse three-page order.

On Feb. 14 a lawyer for the Lyondell affiliate,...
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