Lyondell Resolves $2M Claim Against Interplastic

Law360, New York (April 21, 2011, 2:02 PM EDT) -- Lyondell Chemical Co. on Wednesday settled a New York bankruptcy court claim that Interplastic Corp. owed it $2 million in debt and damages under contracts the companies signed prior to now-solvent Lyondell's January 2009 bankruptcy filing.

The settlement greenlighted by U.S. Bankruptcy Judge Robert E. Gerber calls for Interplastic to pay Lyondell $442,788 and to drop the allegedly secured claim of $810,539 it had lodged against Lyondell's estate so as to put the adversary suit, one of hundreds filed in the proceeding since Lyondell emerged from...
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