Lyondell Settles $12M Fight Over Utility Fees

Law360, New York (July 20, 2010, 1:13 PM EDT) -- A subsidiary of Lyondell Chemical Co. has agreed to allow Morris Cogeneration LLC a cure amount of $12.4 million in the company's bankruptcy, ending a battle with the power station operator over a claim for utility service.

Lyondell affiliate Equistar Chemicals LP said in a stipulation filed Monday in the U.S. Bankruptcy Court for the Southern District of New York that Morris Cogen would get a cure consisting of the $10.6 million it owes the company plus interest. A judge is scheduled to consider the stipulation...
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