Huntsman Scores $1.7B In Feud With Banks

Law360, New York (June 23, 2009, 12:00 AM EDT) -- Deutsche Bank AG and Credit Suisse Group AG are set to pay Huntsman Corp. $1.7 billion in cash and financing under a settlement reached one week into a trial over the banks' financing of the chemical maker's failed tie-up with Hexion Specialty Chemicals Inc.

Under the terms of the deal, the banks will pay Huntsman $316 million in cash apiece, as well as a collective $1.1 billion of financing through issuances of notes and bonds on favorable terms, according to lawyers with Gibbs & Bruns LLP,...
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