Lyondell Trustee Says Blavatnik Scored $1.2B In Buyout

Law360, New York (September 30, 2011, 7:19 PM EDT) -- The trustee for Lyondell Chemical Co. bolstered its claims against billionaire Len Blavatnik in a revised lawsuit Friday, arguing the private equity mogul couldn't skirt claims lodged under Luxembourgian law that he improperly netted $1.2 billion during Lyondell's 2007 leveraged buyout.

The trustee's second amended complaint, filed in New York bankruptcy court, adds nearly 15 pages of facts to support the allegation — one of 21 in the case — that Blavatnik breached his fiduciary duty when he leveraged billions in debt of Luxembourgian petrochemical company...
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