BASF Battles Lyondell Over $135M Award

Law360, New York (February 2, 2011, 5:26 PM EST) -- Chemical company BASF Corp. is fighting to obtain more than $135 million in contract damages that Lyondell Chemical Co. maintains are snuffed out by the confirmation of its Chapter 11 plan.

On Tuesday, BASF asked Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York to lift the continuing stay on the Lyondell case and allow a New Jersey state court to recalculate the $206 million damage award a jury handed down in October 2007.

The jury awarded BASF roughly...
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