Highland Sues UBS Over $150M Term Loan Contract

Law360, New York (July 28, 2010, 7:12 PM EDT) -- Highland Capital Management LP has filed a lawsuit claiming UBS Securities LLC unfairly blocked it from a contract entitling it to a $150 million financing opportunity for restructured chemical giant LyondellBasell Industries NV.

Highland named both UBS and Lyondell as defendants Wednesday in a 14-page complaint in the New York County Supreme Court, alleging single counts of breach of contract, tortious interference with a contract and tortious interference with prospective economic relations.

The real culprit, Highland alleges, is UBS, which served as Lyondell's agent and refused...
To view the full article, register now.