La Paloma Judge Won't Stay Order Scotching Enviro Liability

Law360, Wilmington (January 9, 2018, 9:49 PM EST) -- A Delaware bankruptcy judge declined Tuesday to stay his decision that La Paloma Generating Co. LLC’s buyer, senior creditor LNV Corp., is not on the hook for roughly $60 million in environmental costs under California’s “cap-and-trade” program while regulators appeal, ruling that the state’s chances for a successful challenge were slim.

During a hearing in Wilmington, U.S. Bankruptcy Judge Christopher S. Sontchi said the California Air Resources Board’s position that interpretation of the Golden State’s cap-and-trade statute requires LNV to owe the environmental liabilities related to the assets it bought isn’t strong enough for the challenge to pass muster at the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related

Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Delaware

Nature of Suit

Date Filed

December 6, 2016

Law Firms

Government Agencies