Home / Knowledge / News / Textiles / Non-US operations not affected by Chapter 11 filing, LyondellBasell
Non-US operations not affected by Chapter 11 filing, LyondellBasell
09
Jan '09
LyondellBasell Industries issued the following statement:

"In view of the many inquiries received by LyondellBasell questioning whether operations outside the United States are impacted by our Chapter 11 restructuring filings, we would like to stress that none of our operations outside the United States are impacted.

No LyondellBasell company or affiliate located outside of the United States has applied for or become involved in insolvency or bankruptcy proceedings in their respective home countries.

All of LyondellBasell's non-U.S. companies are conducting business as usual with no impact from the Chapter 11 restructuring filing by our U.S. operations and one European holding company. All LyondellBasell companies remain committed to maintaining mutually-beneficial relationships with suppliers and customers and to serving and operating in the market as they did before this voluntary action by the company.

Confusion apparently resulted from the inclusion of Basell Germany Holdings GmbH in the Chapter 11 filing, the only entity among the 79 LyondellBasell affiliates that is not registered in the United States. The filing by Basell Germany Holdings GmbH was not a result of insolvency under German law. Rather, including this non-U.S. holding company allows it to benefit from the special financing package that has been negotiated with lenders in connection with the Chapter 11 filing. The German holding company also will benefit from the moratorium on obligations under the existing financing arrangements that result from the filing."

LyondellBasell Industries


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search