The leveraged buyout of Lyondell Chemical Co. in 2007 benefited the company’s board as well as billionaire Len Blavatnik, who gained $1.2 billion, according to a revised lawsuit brought by the company’s creditors.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Five years and four days after the collapse of Lehman Brothers, the New York City Ballet Fall Gala was a glittering jumble of celebrity (Drew Barrymore, 50 Cent), finery (Chanel, Jar), and economic commentary (Wilbur Ross et alia).
Warner Music Group owner Len Blavatnik withdrew his bid for EMI Group’s recorded music business after failing to agree on a price with owner Citigroup Inc., two people with knowledge of the situation said.
Warner Music Group’s owner, Len Blavatnik, is considering dropping his bid for EMI Group Ltd. because Citigroup Inc. is taking too long to choose a buyer, a person with knowledge of the bidding process said.
The lawyer who helped craft a proposed $8.5 billion settlement with Bank of America Corp. over soured mortgages urged some of her biggest bondholder clients to oppose a more aggressive stance set forth by a rival attorney, Bloomberg News Jody Shenn and David McLaughlin report.