Articles tagged with: Lyondell Chemical

Reports, Articles, Motions, Opinions Concerning Lyondell Chemical Company Bankruptcy Preferential, Fraudulent Transfer Avoidance Adversary Proceeding Litigation

The LB Litigation Trust v. Thermon Heat Tracing Services Inc. – Defendants’ Motion to Dismiss

05/10/2011 – Motion to Dismiss filed in the Lyondell Chemical Company Adversary Proceedings by Thermon Heat Tracing Services Inc. before Judge Gerber in the Southern District of New York (Manhattan). Fed. R. Civ. P. 12(b)(1) challenge to the standing of the Trustee of the LB Litigation Trust to pursue the preference claim. Estoppel, res judicata and due process challenges also are significant. A tour de force, must read with significance for most pending and “in the pipeline” preference claims. Registered Users, click this link to see the filing.*

Lyondell Chemical Company Litigation Trust Starts Bankruptcy Preference Recoveries

The Lyondell Chemical Company and its 93 associated debtors’ (the “Debtors”) bankruptcy preference claims were transferred to the LB Litigation Trust when the LyondellBasell Third Amended and Restated Joint Chapter 11 Plan of Reorganization became effective on April 30, 2010. The plaintiff in the actions is Edward S. Weisfelner, as Trustee of the trust. Although starting slowly with the filing of only 39 preference actions from December 7, 2010 to December 17, 2010, the LB Litigation trust has the strong potential to launch a massive preferential transfer recovery effort.