Trustee Files 600 Avoidance Actions In Lyondell Ch. 11

Law360, New York (January 3, 2011, 7:55 PM EST) -- The trustee for the LB Litigation Trust, set up to pursue assets of the LyondellBasell Industries NV debtors in Lyondell Chemical Co.'s bankruptcy, has launched hundreds of avoidance actions with a total face value of about $32.3 million in the past two weeks.

At least 600 adversary cases were filed Monday and over the previous two weeks by litigation trustee Edward S. Weisfelner in the U.S. Bankruptcy Court for the Southern District of New York.

Those actions were filed by the firm Whitford Taylor & Preston...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.