Lyondell Creditors Join Bid To Nix $1B In Enviro Claims

Law360, New York (October 15, 2009, 5:59 PM EDT) -- Lyondell Chemical Co.’s unsecured creditors have backed the petrochemical manufacturer’s bid to jettison $1.1 billion in environmental claims, claiming the remediation costs are already being sought by federal and state environmental agencies.

On Wednesday, the official committee of unsecured creditors urged Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York to disallow 76 private claims for environmental cleanup that allegedly duplicate demands made by regulators to cover some $5 billion in remediation costs.

Most of Lyondell’s environmental liabilities are...
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