Brown Rudnick Accused Of Bungling $300M Bankruptcy Claim
Law360 (November 26, 2019, 10:38 PM EST) -- The trustee of bankrupt Lyondell Chemical Co. has accused Brown Rudnick LLP of bungling the trust's attempt to claw back $300 million in credit line repayments from private equity mogul Leonard Blavatnik, according to a lawsuit filed Tuesday in New York federal court.
Trustee Mark E. Holliday said Brown Rudnick, which represented the trust in a suit against Blavatnik's company Access Industries Holdings Inc., committed malpractice by failing to show that Lyondell was insolvent when it made the credit repayments. A finding of insolvency would have meant the money could have been clawed back as avoidable preference payments.
"In short, Brown...
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