UBS Sued Over Alleged Lyondell Contract Breach

Law360, New York (April 12, 2011, 4:21 PM EDT) -- Highland Capital Management LP filed suit in New York on Monday against UBS Securities LLC, bankrupt Lyondell Chemical Co.'s agent for exit financing deals, saying it caused the chemical company to break a contract related to a $1 billion restructuring loan.

Highland filed its suit in the U.S. Bankruptcy Court for the Southern District of New York seeking declaratory judgment, alleging tortious interference with a contract and with prospective economic relations, saying UBS’ behavior was a continuation of another, unrelated feud between the firms.

The hedge...
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