May 15, 2009
Lyondell Chemical Company was acquired on December 20, 2007. Basell purchased Lyondell's outstanding common shares for $48 per common share in an all-cash transaction. As a result, LyondellBasell became a privately owned entity of Access Industries, which privately owned Basell prior to the merger with Lyondell.
On January 6 of this year, in order to restructure the company’s debts, Lyondell voluntarily filed for Chapter 11 under the U.S. Bankruptcy Code. The U.S. Bankruptcy Court for the Southern District of New York is administering this restructuring and reorganization process.
If you held shares of Millennium Corporation or Lyondell Chemical Company and failed to exchange those shares prior to the Chapter 11 filing, you should consider filing a proof of claim in Lyondell’s chapter 11 cases. No exchanges can take place at this time due to the Chapter 11 filing.
Proof of claim forms can be obtained from the Court Documents site, hosted by Epiq Systems. All claims or potential claims must be submitted to the Court by the Claims Bar Date of 5 p.m. ET on June 30, 2009 through the mailing address below:
Lyondell Chemical Company, et al. Claims Processing Center
c/o Epiq Bankruptcy Solutions, LLC
FDR Station, PO Box 5013
New York, NY 10150-5013
The failure to file a proof of claim by the Claims Bar Date could bar your assertion of, or any distribution on, any claim based on stock certificates that were not exchanged.
All filed claims will be reviewed as part of the reorganization process and the treatment or classification of claims based upon the share certificates that were not exchanged, and the amounts to be paid (if any), will be determined as part of the resolution of the bankruptcy case.
Please visit the Chapter 11 Restructuring page for more information.