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Lyondell Trustee Can’t Recover $300M Payment To PE Mogul

Law360, New York (January 25, 2018, 7:49 PM EST) -- A New York federal judge on Wednesday found the trustee of bankrupt Lyondell Chemical Co. can’t claw back $300 million in credit line repayments from private equity mogul Leonard Blavatnik but can bump its breach of contract damages from $8 million to $12 million.

U.S. District Judge Denise Cote upheld a 2017 bankruptcy court decision finding trustee Edward Weisfelner had failed to prove Lyondell was insolvent when it made the payments and that while Blavatnik’s liability for a denying a credit request was limited, there was...
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Case Information

Case Title

Lyondell Chemical Company


Case Number

1:09-bk-10023

Court

New York Southern

Nature of Suit

Judge

Judge Cecelia G. MorrisChapter 11VoluntaryAsset Show Associated Cases

Date Filed

January 6, 2009


Case Title

In Re: Lyondell Chemical Company et al.


Case Number

1:17-cv-04375

Court

New York Southern

Nature of Suit

Bankruptcy Appeal (801)

Judge

Denise L. Cote

Date Filed

June 9, 2017

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