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)

For more on LyondellBasell visit ICIS company intelligence
To discuss issues facing the chemical industry go to ICIS connect


By: Al Greenwood
+1 713 525 2645



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