Court Rejects $116.5M Damages In AEP-Suez Dispute

Law360, New York (May 22, 2007, 12:00 AM EDT) -- An appellate court on Tuesday vacated an order granting American Electric Power Co. Inc. $116.5 million in damages in a longstanding contract dispute, but left the door open for the energy company to collect more damages in lost profits.

The U.S. Court of Appeals for the Second Circuit issued the ruling remanding the dispute over a power purchase and sale agreement AEP and Tractebel Energy Marketing Inc. entered into in 2000. Under the terms of the disputed contract, Tractebel agreed to buy power from an AEP...
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