Energy Exec Can't Nix Suit Over $2.5M Tax Credit Settlement

Law360 (October 21, 2020, 3:02 PM EDT) -- An Arizona federal judge has refused to let a CEO and major investor in two energy companies escape a suit seeking to enforce the terms of a $2.5 million settlement document meant to end a long-running dispute over allegedly stolen tax credits, saying the complaint sufficiently alleges the agreement was binding.

U.S. District Judge Steven P. Logan on Tuesday denied a motion to dismiss lodged by William Hinz, the CEO and stakeholder in alternative energy companies Inductance Energy Corp. and Wyo Technology Investment LLC. Hinz had argued a formal agreement was required to officiate a terms sheet he signed with Resource Recovery Corp.,...

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