Promote Your Attorney Profile on Law.net - Get Found / Earn More!
Law Professor Catches Incorrect Law Used in Multiple Court Opinions
Law Professor Catches Incorrect Law Used in Multiple Court Opinions
Renowned Lobbyist and Attorney Thomas Boggs Dies at 73
Renowned Lobbyist and Attorney Thomas Boggs Dies at 73
Juror Removed from Jury After Judge Calls Trial “Stupid”
Juror Removed from Jury After Judge Calls Trial “Stupid”
Judge Suspended for Intoxication and Public Urination
Judge Suspended for Intoxication and Public Urination
Your profile matches an open legal position. Apply now!
Job Listings

Many Firms Involved in LyondellBasell Bankruptcy Proceedings

In the wake of chemical giant LyondellBasell filing for Chaptel 11, several top firms in the United States and the United Kingdom find themselves involved.

Cadwalader Wickersham & Taft has secured a leading role for the company in the US, with financial restructuring group heads Deryck Palmer and John Rapisardi leading the team. In the UK, LyondellBasell has procured Clifford Chance for advice.  That team is led by the head of restructuring, Mark Hyde.

Creditors involved in the case, both in the US and the UK, have secured firms such as  Freshfields Bruckhaus Deringer, Ashurst, Simmons & Simmons, Bingham McCutchen, Latham & Watkins and Milbank Tweed Hadley & McCloy.

What

 job title, keywords

Where

 city, state, zip



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


Lyondell Chemical, the company’s US arm, filed for Chapter 11 in January.  It did not include most of the groups operations in Europe.  The decision was made to avoid having the company’s European assets liquidated.

Ashurst head of restructuring Nick Angel said: “As a generalization, an insolvency process almost anywhere in the world is to be avoided because it damages value. This is especially true where you have the prospect of different insolvency processes in different countries but it is less true for the US, where Chapter 11 processes are more readily accepted.

“What has happened here illustrates the difficulty in dealing with international groups because Chapter 11 will not be recognized throughout the world and there is no alternative worldwide process for insolvency.”

Many Firms Involved in LyondellBasell Bankruptcy Proceedings by

Tagged: , , , , , , , , , , , , , , , , , , , , , ,

Posted by on February 25, 2009. Filed under Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

 

 

Job of the Day
Real Estate Paralegal
USA-NY-New York City

Our client, a top New York based law firm, is looking to hire an experienced Real Estate Paralegal for their New York City office. Responsibilities may include: -Coordinating due diligence for a va...