Con Ed Loses Bid To Challenge NYC Cleanup Deal

Law360, New York (June 18, 2009, 12:00 AM EDT) -- Consolidated Edison Co. of New York Inc. has no standing to challenge a pricey May 2003 property cleanup settlement with a Brooklyn paint company because the electricity provider waived its rights in district court, a federal appeals court has ruled.

Tuesday's ruling in the U.S. Court of Appeals for the Second Circuit says Con Edison accepted a financial affidavit reviewed by the district court in May 2003 — and used in determining the settlement — and did not reserve its right to receive updated financial information...
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