Cheniere Can't Grab LNG Co., Ex-Partner Tells Chancery Court

Law360 (June 13, 2019, 7:15 PM EDT) -- Parallax Enterprises LLC has asked a Delaware Chancery Court to declare that a Cheniere Energy Inc. subsidiary could not use a disputed debt between the former business partners to foreclose on Parallax's interest in a liquefied natural gas business and take on a management role.

Parallax said Wednesday that Cheniere LNG Terminals LLC was trying to gain control over Live Oak LNG LLC, which had been formed by Parallax to facilitate the development of two LNG projects in Louisiana that Parallax and Cheniere had sought to develop jointly. Parallax said Cheniere was pursuing Live Oak so it could fight off a...

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