Ex-Biofuel Plant Owner Says Buyer Avoiding $5.5M Payment

Law360, Wilmington (September 10, 2013, 4:23 PM EDT) -- The former majority owner of a Hawaii-based biomass power plant project on Monday sued the company to which it sold its stake, claiming it participated in a secret deal to get out of a $5.5 million payment due when a power purchase agreement wins regulatory approval.

MMARV Bioenergy LLC, which owned a 90 percent interest in the company developing the Hu Honua bioenergy facility, sued HIPP LLC, a subsidiary of Transformative Energy & Materials Capital Inc., and several of its directors and related organizations in the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.