Banks Lose Appeal In Huntsman-Hexion Merger Case

Law360, New York (October 27, 2008, 12:00 AM EDT) -- A Texas appeals court has rejected Credit Suisse Securities (USA) Inc. and Deutsche Bank Securities Inc.'s challenge to an injunction that blocks the banks from suing to obtain a declaration that the entity that would result from the pending merger between Huntsman Corp. and Hexion Speciality Chemicals Inc. would be insolvent.

The Court of Appeals of Texas' Ninth District handed down its ruling on Oct. 23, holding that the trial court did not abuse its discretion by issuing the temporary injunction and affirming the lower court's...
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