Huntsman Under Fire Over $15M Payout To Founder

Law360, New York (March 30, 2009, 12:00 AM EDT) -- Huntsman Corp. is catching heat for forking over $15 million in consulting fees to founder and chairman Jon Huntsman for his role in helping resolve a lawsuit brought by the chemical company against private equity firm Apollo Management LP over a failed leveraged buyout.

The payment was revealed in a footnote in Huntsman's 2008 annual report, suggesting that the chemical company did not want to draw attention to the matter in the midst of public outrage over corporate bonuses.

The company defended the payout as a...
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