Steven B. Smith
In July 2009, the LyondellBasell Litigation Trustee commenced litigation arising out of the merger of Lyondell and Basell, seeking the recovery of billions of dollars for the benefit of unsecured creditors. And, as Bankruptcy Judge Martin Glenn observed, the Trustee "threw the kitchen sink" at the defendants. Eight years of litigation and two bankruptcy judges later, we have a decision.
David M. Hillman and Parker J. Milender
This article focuses on the concept of "unreasonably small capital," which is not defined in the Bankruptcy Code or applicable state statutes. Consequently, the determination of adequate capital is fact-intensive and fertile grounds for litigation.
Who's doing what; who's going where.