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Texas Grid Regulator Immune From Panda’s Suit Over Ch. 11

Law360 (April 17, 2018, 10:01 PM EDT) -- Bankrupt power plant owner Panda Power Funds can’t move forward with a lawsuit blaming power grid operator the Electric Reliability Council of Texas for releasing allegedly misleading information about the state’s power needs, a Texas appeals court held Monday.

ERCOT, which manages the power grid that covers most of Texas, has governmental immunity against fraud and negligent misrepresentation claims brought by Panda Power Generation Infrastructure Fund LLC and a series of related entities, the Fifth Court of Appeals in Dallas held. Panda blames ERCOT for what...
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