Lyondell Takes $1.7M To End Occidental Contract Row

Law360, New York (April 22, 2010, 4:41 PM EDT) -- A subsidiary of bankrupt Lyondell Chemical Co. has hammered out its differences with Occidental Chemical Corp. over millions of dollars of ethylene sales and accepted $1.7 million to resolve a long-running dispute about offsets Occidental claimed were in order.

Equistar Chemicals LP and Occidental asked Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York to approve the stipulation, which puts to rest Occidental’s January 2009 bid to lift the stay and offset the debtor’s claims with more than $4...
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