LyondellBasell bankruptcy sweeps petchem industry
06 January 2009 23:22 [Source: ICIS news]
HOUSTON (ICIS news)--LyondellBasell US operations owe money to several of the world's petrochemical producers, the company said in its bankruptcy protection filing on Tuesday.
Lyondell Chemical said on Tuesday that it owes $19bn (€14bn) to at least 25,001 creditors and perhaps as many as 50,000 creditors.
BASF, Chevron Phillips Chemical and Air Products were among the creditors.
The company filed for bankruptcy protection in a federal court in New York.
The following lists the largest creditors, according to the company's bankruptcy filing.
|
Creditor |
Description of liability |
Amount |
|
Bank of New York as trustee |
notes |
$615m |
|
Bank of New York as trustee |
notes |
$241m |
|
Petroles Der Venezuela SA |
trade debt |
$234m |
|
BASF |
judgment |
$206m |
|
Sonatrach |
trade debt |
$93m |
|
GIM Channelview Cogeneration |
trade debt |
$19m |
|
Linde Gas |
trade debt |
$15m |
|
Calpine |
trade debt |
$12m |
|
Castor Americas |
trade debt |
$11m |
|
Enterprise Texas Pipeline |
trade debt |
$11m |
|
Chevron Phillips Chemical |
trade debt |
$10m |
|
Air Products |
trade debt |
$9m |
|
Air Liquide America |
trade debt |
$8m |
|
SAP America |
trade debt |
$7m |
|
Jacobs Field Services North America |
trade debt |
$7m |
|
BASF |
trade debt |
$7m |
|
Wyatt Field Service |
trade debt |
$7m |
|
Kirby Inland Marine |
trade debt |
$6m |
|
Morgan Stanley Capital Group |
trade debt |
$6m |
|
Morris Cogeneration |
trade debt |
$5m |
|
Veolia Environment Services |
trade debt |
$5m |
|
Arco Midcon |
trade debt |
$5m |
|
Union Pacific Railroad |
trade debt |
$5m |
($1 = €0.74)
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By: Al Greenwood
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