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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                   FORM 12b-25

                           NOTIFICATION OF LATE FILING

                                        Commission file number: 1-9699
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   (Check one)

      [ ] Form 10-K and Form 10-KSB             [ ] Form 11-K

      [ ] Form 20-F      |X|   Form 10-Q and Form 10-QSB  [ ] Form N-SAR

   For  period ended September 30, 2001
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      [ ] Transition Report on Form 10-K and Form 10-KSB

      [ ] Transition Report on Form 20-F

      [ ] Transition Report on Form 11-K

      [ ] Transition Report on Form 10-Q and Form 10-QSB

      [ ] Transition Report on Form N-SAR

   For the transition period ended
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   Read Attached Instruction Sheet Before Preparing Form.  Please Print or Type.

   Nothing in this from shall be construed to imply that the Commission has
   verified any information contained herein.

   If the notification relates to a portion of the filing checked above,
   identify the item(s) to which the notification relates:_____________________


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                                     PART I

                             REGISTRANT INFORMATION

   Full name of registrant Borden Chemicals and Plastics Limited Partnership
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   Former name if applicable
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   Address of principal executive office (Street and number)
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                36045 Highway 30
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   City, state and zip code       Geismar, LA 70734
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                                     PART II
                             RULE 12b-25(b) AND (c)

     If the subject report could not be filed without unreasonable effort of
expense and the registrant seeks relief pursuant to Rule 12b-25(b), the
following should be completed. (Check box if appropriate.)

     (a)  The reasons described in reasonable detail in Part III of this form
          could not be eliminated without unreasonable effort or expense;

     (b)  The subject annual report, semi-annual report, transition report on
|_|       Form 10-K, 10-KSB, 20-F, 11-K or Form N-SAR, or portion thereof will
          be filed on or before the 15th calendar day following the prescribed
          due date; or the subject quarterly report or transition report on Form
          10-Q or 10-QSB, or portion thereof, will be filed on or before the
          fifth calendar day following the prescribed due date; and

     (c)  The accountant's statement or other exhibit required by Rule 12-b-25
          (c) has been attached if applicable.


                                    PART III
                                    NARRATIVE

     State below in reasonable detail the reasons why Form 10-K, 10-KSB, 11-K,
20-F, 10-Q, 10-QSB, N-SAR or the transition report portion thereof could not be
filed within the prescribed time period. (Attach extra sheets if needed.)

     As previously announced, Registrant's management and finance and accounting
staff has identified issues relating to inaccuracies in the reporting of
accounts payable and inventory in the financial statements of Registrant's
subsidiary operating partnership, Borden Chemicals and Plastics Operating
Limited Partnership ("BCP") which occurred prior to the April 3, 2001 bankruptcy
filing of BCP. It has been determined that amendments to Registrant's Annual
Report on Form 10-K for the year ended December 31, 2000 and Quarterly Report on
Form 10-Q for the quarter ended March 31, 2001, are necessary. Management and
the finance and accounting staff of Registrant have been occupied with preparing
such amendments, as well as dealing with various matters in the pending BCP
bankruptcy. Accordingly, the completion of Registrant's Quarterly Report on Form
10-Q for the quarter ended September 30, 2001 has been delayed.

                                     PART IV
                                OTHER INFORMATION

     (1)  Name and telephone number of person to contact in regard to this
          notification.


     Robert R. Whitlow, Jr.                              (225) 673-6121
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          (Name)                                 (Area Code) (Telephone Number)


     (2) Have all other periodic reports (required under Section 13 or 15(d) or
the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
of 1940 during the preceding 12 months or for such shorter period that the
registrant was require to file such report(s) been filed? If the answer is no,
identify report(s).

|_|  Yes     |X|  No

     Registrant has not yet filed a Quarterly Report on Form 10-Q for the
quarter ended June 30, 2001.

     (3) Is it anticipated that any significant change in results of operations
from the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

|X|  Yes     |_|  No

     If so: attach an explanation of the anticipated change, both narratively
and quantitatively, and, if appropriate, state the reason why a reasonable
estimate of the results cannot be made.

     See attached.


                Borden Chemicals and Plastics Limited Partnership
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                  (Name of Registrant as Specified in Charter)

Has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.

Date: November 15,  2001                  By /s/  Robert R. Whitlow
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                                    ATTENTION

     Intentional misstatements or omissions of fact constitute federal criminal
violations (see 18 U.S.C. 1001)


                              GENERAL INSTRUCTIONS

     1. This form is required by Rule 12b-25 of the General Rules and
Regulations under the Securities Exchange Act of 1934.

     2. One signed original and four conformed copies of this form and
amendments thereto must be completed and filed with the Securities and Exchange
Commission, Washington, DC 20549, in accordance with Rule 0-3 of the General
Rules and Regulations under the Act. The information contained in or filed with
the form will be made a matter of the public record in the Commission files.

     3. A manually signed copy of the form and amendments thereto shall be filed
with each national securities exchange on which any class of securities of the
registrant is registered.

     4. Amendments to the notifications must also be filed on Form 12b-25 but
need not restate information that has been correctly furnished. The form shall
be clearly identified as an amended notification.

     5. Electronic Filers. This form shall not be used by electronic filers
unable to timely file a report solely due to electronic difficulties. Filers
unable to submit a report within the time period prescribed due to difficulties
in electronic filing should comply with either Rule 201 or Rule 202 of
Regulation S-T or apply for an adjustment in filing date pursuant to Rule 13(b)
of Regulation S-T.





Attachment -- Part IV, Item 3:
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     It is anticipated that net income in the third quarter of 2001 will
decrease as compared to the third quarter of 2000. The estimates prepared for
the 2001 third quarter reflect that the net loss will increase $9.9 million to
($18.0) million compared to ($8.1) million in the third quarter of 2000. Net
income from the third quarter of 2000 includes income from discontinued
operations. The anticipated reduction in net income is attributable to
operations discontinued in 2000, a 17.6% decline in average selling price and a
12.0% reduction of sales volumes.