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Huntsman's Texas lawsuit moves towards trial

12
Nov '08
Huntsman Corporation today announced that it has commenced discovery in its Texas lawsuit against Deutsche Bank and Credit Suisse. Huntsman's multi-billion dollar tortious interference claims against the Bank Defendants are set for trial on February 9, 2009, in Montgomery County, Texas.

Huntsman's Texas claims are separate from the claims pursued by Hexion Specialty Chemicals, Inc. against the same parties in New York. The Bank Defendants' effort to force Huntsman to litigate its claims in New York has been rejected by the Texas court. Huntsman therefore is not and will not be a party to Hexion's New York case.

Huntsman has advised the Bank Defendants that it intends to pursue prompt depositions of senior Credit Suisse and Deutsche Bank executives, including Gary Vogle, the global head of private equity for Credit Suisse, and Thomas Gahan, former head of investment banking for Deutsche Bank.

Huntsman's President and CEO Peter Huntsman observed, "We are eager to try our Texas claims, which have already withstood appellate review in the Texas Court of Appeals. We are confident that a Texas jury will see and be willing to redress the serious injuries Huntsman has suffered at the hands of these banks."

Huntsman Corporation


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