Blavatnik Creation LyondellBasell May Face U.S. Probe

LyondellBasell, the bankrupt chemical company created by billionaire Len Blavatnik, may face a U.S. bribery probe after telling prosecutors about a potentially improper payment linked to a project in Kazakhstan, according to four people with knowledge of the matter.

LyondellBasell, which sought protection from creditors last year, told the Justice Department it uncovered conduct that raised “compliance issues” under the U.S. Foreign Corrupt Practices Act, according to a March 30 court filing in Manhattan. The FCPA makes it a crime for companies with U.S. operations to bribe foreign officials. A review of international holdings by a management team installed after the bankruptcy triggered the disclosure, said David Harpole, the company’s Houston-based spokesman.