Ex-Lyondell Employees Seek Class Cert. In Bonus Suit

Law360, New York (December 21, 2010, 8:16 PM EST) -- A group of 427 former employees of Lyondell Chemical Co. has asked a bankruptcy court for class certification to recover short-term incentive bonuses allegedly promised to them in a buyout agreement made by the bankrupt chemical powerhouse.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, the former employees argued that the reorganized debtors owed bonuses to anyone terminated under buyout agreements in workforce restructuring during the company’s Chapter 11 proceedings.

Lyondell’s decision to withhold the bonuses could constitute...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.