Duke Should Face Fraud Claims Over Crescent Ch. 11: Trustee

Law360, New York (October 29, 2013, 7:59 PM EDT) -- The trustee for Crescent Resources LLC fought back in a Texas federal court Monday against parent company Duke Energy Corp.’s move for summary judgment of a suit over a 2006 debt transaction that allegedly left the real estate investment company insolvent and careening toward bankruptcy while Duke raked in $1.6 billion.

Duke should not be protected from fraudulent claims on the basis of estoppel because the debtor-in-possession transaction involving several investment banks was set up in 2006 by Duke after it allegedly drove Crescent to bankruptcy,...
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