What exactly did Merrill Lynch investment bankers tell the Huntsman board as it considered a response to the collapse of its $10.6 billion buyout by Hexion Specialty Chemicals? Did the company’s financial advisers — newly retained as “litigation consultants” — advise the Huntsman board that Hexion was justified in walking away from the deal?

Thanks to an Aug. 22 ruling by Chancellor Stephen Lamb of Delaware Chancery Court (pdf), Hexion’s lawyers at Wachtell, Lipton, Rosen & Katz will soon find out.