Glidden Contracts Spell Doom For Lyondell Unit: Atty

Law360, New York (May 13, 2010, 5:46 PM EDT) -- A lawyer for a Lyondell Chemical Co. subsidiary told a bankruptcy judge Thursday that Akzo Nobel Paints LLC is aiming to stick it with a $73 million environmental claim or major lead liabilities by demanding a decision on contracts related to a decades-past sale of the Glidden paint brand.

Millennium Holdings LLC attorney David F. Williams, of Cadwalader, Wickersham & Taft LLP, warned Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York that Akzo’s request could wipe out virtually all...
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