Lyondell indenture trustees appeal DIP loan, adequate protection rulings

By Caroline Salls

Pittsburgh, April 20 - Lyondell Chemical Co. indenture trustees Bank of New York Mellon and Bank of New York Mellon Trust Co. NA have appealed the court order approving Lyondell's debtor-in-possession financing, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The banks are also appealing the court's decision regarding Bank of New York Mellon's motion for reargument of a ruling that Lyondell's Arco and Equistar noteholders are adequately protected.

Lyondell is a U.S. subsidiary of LyondellBasell Industries AF SCA, a Netherlands-based polymer, petrochemicals and fuels company. LyondellBasell's U.S. operations and one of its European holding companies filed for bankruptcy on Jan. 6. The Chapter 11 case number is 09-10023.

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