UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: LYONDELL CHEMICAL COMPANY, et al., Debtors. EDWARD S. WEISFELNER, AS LITIGATION TRUSTEE OF THE LB CREDITOR TRUST, Plaintiff, v. FUND 1., et al., Defendants. Chapter 11 Case No. 09-10023 Jointly Administered Adversary Proceeding Case No. 10-4609 (REG) DECISION AND ORDER ON MOTIONS TO DISMISS APPEARANCES: BROWN…
Recent News on the Lyondell Clawback Litigation from Cadwalader, Wickersham & Taft: On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) held that…
DWAC stands for Deposit/Withdrawal at Custodian. It is an electronic transaction system run by The Depository Trust Company (DTC) that makes it possible to transfer new shares or paper share certificates between broker/dealers or custodial banks, the DTC participants, and the issuer’s transfer agent. The DTC is, thus, “a clearinghouse settling trades in corporate and…
