Judge Denies Hexion Bid To Extend Banks' Pledge

Law360, New York (October 31, 2008, 12:00 AM EDT) -- A New York state judge has refused a request by Hexion Specialty Chemicals Inc. to force two banks to extend an agreement to fund its proposed $6.5 billion acquisition of Huntsman Corp.

The decision by New York State Supreme Court Judge Eileen Bransten comes two days after Hexion, a unit of private equity firm Apollo Management LP, sued affiliates of Credit Suisse Group AG and Deutsche Bank AG alleging that the banks breached their obligations under a financing commitment letter to fund the closing of the...
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