Lyondell Scores TRO Against Creditors, Noteholders

Law360, New York (February 9, 2009, 12:00 AM EST) -- The federal judge overseeing the bankruptcy proceedings of Lyondell Chemical Co., the U.S. arm of Dutch chemical giant LyondellBasell Industries AF SCA, has issued a temporary restraining order preventing creditors from taking action against the company while its U.S. operations reorganize in Chapter 11.

The order signed Friday by Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York halts any creditor of Lyondell Chemical or its co-debtor affiliates and subsidiaries from initiating proceedings against LBIAF, the company announced....
To view the full article, register now.