UBS Can't Shake Highland Claims Over Lyondell DIP

Law360, New York (March 28, 2011, 5:01 PM EDT) -- The judge who oversaw LyondellBasell Industries NV’s restructuring ruled Monday that the New York bankruptcy court remains the proper forum for Highland Capital Management LP’s contract claims against UBS Securities LLC over the creation of a $1 billion restructuring loan.

Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York said Highland’s claims against Lyondell are barred but allowed the hedge fund to pursue, in the bankruptcy court, state court allegations that exit financing agent UBS acted in bad faith...
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