Sempra Wins Chancery Fight For Hunt Share Of Texas Utility
Law360, Wilmington, Del. (January 22, 2020, 10:22 PM EST) -- A corporate offspring of bankrupt and sold-off Energy Future Holdings Corp. secured a right to buy an additional stake of a company holding 20% of Texas' largest electric utility Wednesday, after the Chancery Court waded through an "eye-watering" tangle of corporate contracts.
Vice Chancellor Sam Glasscock III found after trial that Sempra Texas Holdings Corp., created when Sempra Energy bought EFH in a $9.45 billion Delaware bankruptcy court settlement in 2018, had a preclusive right to buy Hunt Strategic Utility Investment LLC's 1% share of Texas Transmission Holdings Corp. TTHC affiliates own 19.75% of Oncor Electric Delivery Co., the nation's sixth...
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