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,[1] 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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!