Panel Dismisses Noteholder Lawsuit Against BNY Mellon

, New York Law Journal


The Appellate Division, First Department, has dismissed a lawsuit brought against Bank of New York Mellon by a dozen noteholders, including hedge funds Arrowgrass Master Fund and Caspian Capital Partners, alleging that BNY Mellon was negligent in signing off on Basell AF SCA's disastrous leveraged buyout of Lyondell Chemical Co., costing Basell noteholders almost $1 billion.

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