TITLE

Huntsman Can Sue Creditors, Judge Rules

AUTHOR(S)
Marino, Jonathan
PUB. DATE
May 2009
SOURCE
Mergers & Acquisitions Report;5/18/2009, Vol. 22 Issue 20, p3
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reveals that a ruling by Judge Fred Edwards of the 9th District Court of Montgomery County, Texas will enable chemical firm Huntsman Corp. to pursue damages against would-be creditors it blamed for the failure of its 2008 merger deal with Hexion Specialty Chemicals. The creditors are Credit Suisse and Deutsche Bank. Huntsman plans to claim that the banks committed common law fraud in relation to its initial Basell deal, civil conspiracy, negligent misrepresentation and tortuous interference with the Hexion agreement.
ACCESSION #
44148374

 

Related Articles

  • Huntsman, Hexion in Talks to Lower Merger Price? Coons, Rebecca // Chemical Week;11/17/2008, Vol. 170 Issue 35, p16 

    The article focuses on reports that Huntsman and Hexion Specialty Chemicals are in talks to renegotiate the price of their embattled planned merger. One source say that Huntsman is unwilling to accept an offer below $25.25/ share. That is the same price that Basell offered for Huntsman in 2007,...

  • Huntsman, Banks Settle Lawsuit. Kellerhals, Richard // High Yield Report;7/6/2009, Vol. 20 Issue 27, p11 

    This article reports on the settlement agreement reached between Huntsman Corp. and Credit Suisse and Deutsche Bank, the two banks that committed to fund the Huntsman-Hexion Specialty Chemicals merger. The settlement is worth 1.7 billion U.S. dollars. Particular focus is given to the terms of...

  • Hexion Sues Lenders After They Balk at Funding Huntsman Deal. Westervelt, Robert // Chemical Week;11/3/2008, Vol. 170 Issue 34, p12 

    The article reports on the filing of a case by Hexion Specialty Chemicals against Credit Suisse and Deutsche Bank after the banks refused to fund Hexion's proposed $10.6-billion acquisition of Huntsman at the planned deal closing on October 29, 2008. Hexion filed the suit in New York State...

  • Apollo Is On The Hook For Huntsman Buy.  // Investment Dealers' Digest;10/6/2008, Vol. 74 Issue 38, p17 

    The article reports on the ruling placed by Delaware court judge Stephen Lamb ordering Hexion Specialty Chemicals Inc. to complete its $10.6 billion acquisition of chemical company Huntsman Corp. The development follows after Hexion rejected the $500 million financing overture from a trio of...

  • Delaware Court grants Huntsman request for expedited proceeding.  // Paintindia;Jul2008, Vol. 58 Issue 7, p175 

    The article reports on the decision of the Delaware Court of Chancery to grant the request of Huntsman Corp. to expedite the court review of Hexion's wrongful and ongoing efforts to destroy its pending merger with Huntsman. The trial will center on the false allegations of Hexion that the...

  • Pressure mounts for Hexion to seal the deal.  // TCE: The Chemical Engineer;Nov2008, Issue 809, p6 

    The article focuses on the pressure placed on Hexion Specialty Chemicals, a business unit of Apollo Management, for the completion of its takeover of Huntsman, following several court cases. A Delaware court has instructed Hexion to follow the terms of its original acquisition agreement with...

  • Hexion v. Huntsman: Delaware Court Reiterates High Bar to Finding an MAE; Provides Guidance on Requirements of "Reasonable Best Efforts".  // Venulex Legal Summaries;2008 Q4, Special section p1 

    The article discusses the court case arising from the dispute between Hexion Specialty Chemicals and Huntsman over their $10.6 billion merger agreement. The Delaware Court of Chancery found that despite a downturn in the business of Huntsman, no material adverse effect (MAE) had occurred, and...

  • United States : Weil Secures $50 Million Summary Judgment Victory for Credit Suisse in Real Estate Loan Dispute.  // TendersInfo News;8/14/2014, p1 

    The article reports on the major summary judgment victory secured by Weil for Credit Suisse in the New York Supreme Court in its lawsuit against several investment funds managed by Highland Capital with regard to loans that Credit Suisse had arranged to third-party real estate developers.

  • Basell/Huntsman The shape of things to come.  // ICIS Chemical Business Americas;7/9/2007, Vol. 272 Issue 2, p11 

    The article discusses consolidation in the chemical industry. Both Basell and Hexion Specialty Chemicals have made bids to acquire Huntsman. The offers reflect industry sentiment that chemical companies need to have a global presence in both commodities and chemicals in order to be competitive....

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics