The jury trial that pits family-owned Huntsman Corporation against Credit Suisse and Deutsche Bank over a multi-billion dollar tortious interference claim will begin on 11 May 2009. The trial relates to the banks’ behaviour in Huntsman’s merger with Hexion Speciality Chemicals.
Judge Fred Edwards refused to grant the banks a delay of the trial and denied their request to consolidate Huntsman's claims against Apollo Management, owners of Hexion, with Huntsman’s claims against them.
Consequently, the trial will be held after the separate cases that Hunstman has brought against Hexion, for damages, and Apollo’s Leon Black and Josh Harris. These will be held on 4 May and 12 January respectively.
"I am pleased that we need wait no longer than May to present our multi-billion dollar claims against the banks to a Texas jury,” said Huntsman's president and CEO Peter Huntsman. “We look forward to the opportunity to make our case."
In other news, Huntsman founder and chairman Jon M Huntsman (pictured) was one of four people chosen by the American Cancer Society to receive a Medal of Honour its highest honour. The award, which is given those who have made outstanding contributions to the fight against cancer, is in recognition of his philanthropic efforts.
ACS said that Huntsman and his wife Karen had “raised or personally contributed over $600 million” to the fight against cancer.
"I and the many thousands of other associates that work for Huntsman around the globe are immensely proud that our chairman has chosen to return to society so much of his personal gain from the success of our company," said son Peter Huntsman.
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