Energy Co. Escapes Ex-Parent Centennial’s Breach Suit

Law360, New York (July 11, 2011, 8:01 PM EDT) -- A New York state judge on Friday dismissed claims against Colorado Energy Management LLC in a suit brought by its former parent companies alleging it had breached a purchase and sale agreement in arbitration with another company.

Judge Bernard Fried ruled that Centennial Energy Holdings Inc. and Centennial Energy Resources LLC couldn’t pursue claims against CEM because it wasn’t party to the agreement, under which CEM was sold to Bicent Power LLC, a co-defendant in the case.

CEM was a subsidiary of Centennial until 2007. While...
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