Lyondell Judge Axes Highland Contract Suit Against UBS

Law360, New York (April 10, 2013, 2:32 PM EDT) -- A New York bankruptcy judge on Wednesday threw out a hedge fund's suit claiming UBS Securities LLC, Lyondell Chemical Co.'s agent for exit financing deals, interfered with a contract related to a $1 billion restructuring loan.

U.S. Bankruptcy Judge Robert E. Gerber found that Highland Capital Management LP's allegations that UBS intentionally blocked it from participating in the loan doesn't hold water because there was never any contract to begin with.

Lyondell, an American affiliate of LyondellBasell, put its U.S. businesses and certain other affiliates under...
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