Judge Merges Crescent Creditors' Suits Over $1.6B Duke Deal

Law360, Wilmington (March 23, 2012, 7:10 PM EDT) -- A Texas federal judge on Thursday consolidated and removed from bankruptcy court several suits filed on behalf of Crescent Resources LLC creditors over a 2006 debt transaction involving investment banks that allegedly left the company insolvent while parent Duke Energy Corp. raked in $1.6 billion.

The order, issued by U.S. District Judge Sam Sparks, denied Duke's motion to dismiss a suit brought against the parent by the litigation trust set up in Crescent's reorganization plan, which asserts claims for fraudulent transfer and unjust enrichment, among others....
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