A raft of UK and US firms have been handed mandates after chemicals giant LyondellBasell launched Chapter 11 proceedings.

Cadwalader Wickersham & Taft has secured a leading role for the company in the US, with financial restructuring group heads Deryck Palmer and John Rapisardi at the helm. In the UK, LyondellBasell is being advised by Clifford Chance, with head of restructuring Mark Hyde taking the lead.