Company Seeks $4.65 Billion From Banks

Company Seeks $4.65 Billion From Banks It Alleges Backed Out of Merger Deal
Texas Lawyer

The latest courthouse showdown in one of the biggest business disputes of the decade kicks off this month as Huntsman Corp. seeks as much as $4.65 billion in damages from two banks that backed out on financing a merger between Huntsman and Hexion Specialty Chemicals in 2008. Huntsman is alleging fraud and tortious interference by Credit Suisse and Deutsche Bank Securities, the banks that committed to put up $15.5 billion to finance the merger of the two chemical companies. [more]