Lyondell Spurns $340M In Liability Claims

Law360, New York (April 29, 2011, 2:27 PM EDT) -- Reorganized petrochemical giant Lyondell Chemical Co. continued to sift through bankruptcy claims in New York on Thursday, rejecting a raft of personal injury, antitrust and environmental cleanup claims totaling roughly $340 million.

Lyondell maintains that $340 million in claims are invalid and are merely attempts to extract unjustified sums from the custodial trust created when the company emerged from Chapter 11 in April 2010.

While the New Jersey Department of Environmental Protection filed five claims totaling more than $222 million for remediation at more than 30...
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