Texas Court to Commence Trial Against Credit Suisse and Deutsche Bank in May
The Woodlands, TX--Huntsman Corporation (NYSE: HUN) today announced that the jury trial for its multi-billion dollar tortious interference claims against Credit Suisse and Deutsche Bank is set to begin on May 11, 2009, in Montgomery County, Texas.
The Banks had sought to delay the trial of the claims against them to October of 2009, but Judge Fred Edwards refused to do so. The Court also, at Huntsmanís request, denied the Banksí request to consolidate Huntsmanís claims against Apollo Management, Black and Harris with Huntsmanís claims against the Banks. The trial of Huntsmanís claims against the Banks was moved to May in order to permit the court to address jurisdictional objections raised in Huntsmanís separate case against Apollo Management, Leon Black, and Josh Harris. Those objections will be heard on January 12, 2009.
Vice Chancellor Stephen Lamb of the Delaware Court of Chancery also has set a May 4, 2009 date to hear Huntsmanís multi-billion dollar claims for damages against Hexion Specialty Chemicals, Inc. for its knowing and intentional breach of numerous provisions of the merger agreement between Hexion and Huntsman.
Huntsmanís President and CEO Peter Huntsman stated, ďI am pleased that we need wait no longer than May to present our multi-billion dollar claims against the banks to a Texas jury. We look forward to the opportunity to make our case.Ē
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