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Huntsman Corporation Message Board

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  • rtfa50 rtfa50 Jun 20, 2009 10:57 AM Flag

    huntsman in german press

    The U.S. chemical company sued the German Bank and Credit Suisse for damages. This involves a total of almost 14 billion U.S. dollars. Both institutions had in 2007 from an acquisition financing was withdrawn, making the deal burst. The banks have the allegations.

    The German bank must itself against claims from the U.S. to defend. Source: ap
    NEW YORK. The Deutsche Bank and Credit Suisse face a billion-dollar compensation payment. The U.S. chemical company Huntsman has to launch the trial of the two institutions in Conroe, Texas 13.8 billion U.S. dollars as a substitute for it demanded that the banks in 2007 of a takeover have withdrawn funding. So far, only 4.6 billion U.S. dollars been spoken. Both banks confirmed that they had nothing to be ashamed of. There will be a processing time of six weeks.

    Huntsman was in 2007 by both institutions financed takeover bid of the investor, Apollo and the lower offer from a competitor ausgeschlagen. The burst transaction, when the banks retreated from funding. Huntsman argued before the jury, the banks had withdrawn because of the financial crisis in the funding costs had risen. The banks rely on an exit clause, which had grabbed, because the business of Huntsman by the recession had worsened. "We have done our job by putting such people have no money borrowed that they cannot pay back." This is a rough translation from Google.

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