NextEra Fights For $60M Fee From EFH Ch. 11 At 3rd Circ.
By Jeannie O'Sullivan (July 2, 2020, 7:56 PM EDT) -- NextEra Energy Inc. urged the Third Circuit on Thursday to revive its bid for $60 million in administrative expenses in connection with a scrapped deal to purchase assets from bankrupt Energy Future Holdings Corp., arguing that it spent the money in reliance on a sale termination fee that was later taken off the table.
During an oral argument before a three-judge panel, NextEra attorney James P. Bonner of Fleischman Bonner & Rocco LLP said the company endured "severe unremedied prejudice" when a Delaware federal court dismissed the bid, because recovering expenses was NextEra's only recourse after Energy Future decided to sell...
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