Chevron, Dynegy Settle Cherokee Contract Fight For $3M

Law360, New York (September 19, 2012, 10:29 PM EDT) -- Dynegy Holdings LLC and Chevron USA Inc. on Wednesday agreed to pay a combined $3 million to Cherokee County Cogeneration Partners LP to end a $4.7 million contract dispute, effectively releasing Chevron and the bankrupt DH’s claims against each other.

DH, the holding company for Dynegy Inc., will pony up the majority of the settlement sum with $2.7 million, while Chevron will provide the remaining $300,000, according to a motion for approval filed in New York bankruptcy court.

The deal comes a few weeks after Chevron...
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