LyondellBasell Adds Holding Company to Chapter 11 Filing

摘要

LyondellBasell has added its European holding company to its US filing for Chapter 11 bankruptcy protection. LyondellBasell Industries AF has been added to the filing to protect it against claims by certain financial and US trade creditors, LyondellBasell says. The holding company does not manufacture or sell products, and has no employees. Extending Chapter 11 protection to LyondellBasell Industries AF is not an insolvency proceeding under any European law, LyondellBasell says. No LyondellBasell manufacturing operation outside the US has applied for or become involved in insolvency or bankruptcy proceedings in its respective home country, the company adds.