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Business
LyondellBasell Adds To Bankruptcy Filing
by Alexander H. Tullo
May 4, 2009
| A version of this story appeared in
Volume 87, Issue 18
LyondellBasell has added its Luxembourg-based holding company to the existing chapter 11 bankruptcy reorganization of its U.S. affiliates. In February, when LyondellBasell failed to make interest payments on two of its bonds, the bankruptcy court granted the company a 60-day restraining order that protected it from creditors. Adding the holding company to the bankruptcy extends that protection. To date, no LyondellBasell manufacturing affiliate outside the U.S. has filed bankruptcy petitions in its home country.
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