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Delaware Supreme Court interprets Revlon duties in reversal of Lyondell decision

  • White & Case LLP
  • -
  • USA
  • -
  • April 3 2009

In a closely watched case, on March 25, 2009, the Delaware Supreme Court reversed the Court of Chancery and concluded that the directors of Lyondell Chemical Company did not breach their fiduciary duty of loyalty by failing to act in good faith in fulfilling their Revlon duties in connection with Lyondell’s merger with Basell AF