Lyondell Confirms High Fraudulent-Transfer Claim Standards
Law360, New York (December 3, 2015, 10:42 AM EST) -- In the latest turn in the long-running leveraged buyout-related fraudulent conveyance litigation brought in connection with the Lyondell Chemical Co. bankruptcy, on Nov. 18, 2015, Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York issued a decision on motions to dismiss the intentional fraudulent transfer claims and the state law constructive fraudulent transfer claims brought by representatives for shareholders of Lyondell Chemical Co. against Edward Weisfelner, the trustee of two trusts established for Lyondell’s creditors. In re Lyondell Chem. Co., No. 09-10023 (REG), (Bankr. S.D.N.Y. Nov. 18, 2015).
The decision dismissed the intentional fraudulent...
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