LyondellBasell Files Reorganization Plan; Hopes to Exit Bankruptcy by Early 2010

摘要

New York- LyondellBasell Industries has filed its Chapter 11 plan for reorganization with the federal bankruptcy court in New York and, with court approval, hopes to emerge from bankruptcy by early 2010 (PCN, 13 Apr 09, p 1). Under the plan, which affects all of the company's U.S. operations and one European holding company, the corporate structure will be modified as part of an earlier announced fixed-cost reduction target of $700-million.