Liberty Surplus Seeks OK To Ax Lyondell Coverage

Law360, New York (March 26, 2009, 12:00 AM EDT) -- Insurance provider Liberty Surplus has asked a judge to allow its policies with bankrupt Lyondell Chemical Co. to expire, possibly requiring a lift of the automatic stay, because the insurer no longer wants to continue to provide coverage to the chemical company.

On Tuesday, Liberty Surplus Insurance Co. filed a motion in U.S. Bankruptcy Court for the Southern District of New York asking that Judge Robert E. Gerber determine whether the stay applies to insurance policy expirations, and if so, if he would lift the stay...
To view the full article, register now.