Reorganized Raser Sues Over $4.3M Pratt & Whitney Claim

Law360, Wilmington (November 10, 2011, 6:15 PM EST) -- Reorganized debtor Raser Technologies Inc. sued Pratt & Whitney Power Systems Inc. on Wednesday in Delaware bankruptcy court to avoid a $4.3 million claim based on a lien against intellectual property that the geothermal power company sold before filing for Chapter 11.

The dispute stems from a 2008 reimbursement agreement under which Pratt & Whitney asserted it was owed $4.3 million in connection with generators it sold to Raser. The alternative energy company granted Pratt & Whitney a lien against certain intellectual property as security for...
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