The lawsuit filed by Hexion Specialty Chemicals against the banks that are refusing to finance its $6.5 billion takeover of its rival, the Huntsman Corporation, will go to trial on Jan. 8.

A judge refused to extend the lending commitments from Hexion’s banks for its proposed merger with Huntsman.

Two banks financing a buyout of the Huntsman Corporation have backed out of the $6.5 billion deal, which grew increasingly rancorous as the economy worsened.

Apollo Management offered to help close the $6.5 billion merger between its subsidiary, Hexion Specialty Chemicals, and a rival chemical maker, the Huntsman Corporation.

Huntsman said that a court had ordered Apollo Management and Hexion Specialty Chemicals to honor the terms of their $6.5 billion offer to acquire Huntsman.

A proposal by a cadre of Huntsman chemical company shareholders to help close the sale of the company to Hexion Specialty Chemicals was rejected by Hexion.

Hexion agreed to buy Huntsman Chemical for $10.6 billion, or $28 a share. But Hexion called it off, and the lawsuits started flying.

Huntsman Corporation accuses Apollo Management and two of the private equity firm’s founders of interfering in its $10.6 billion merger with an Apollo company chemical maker.

Hexion Specialty Chemicals, a chemical maker owned by the buyout firm Apollo Management, sued the Huntsman Corporation to end their $10.6 billion merger.