Suez Pays AEP $255M To Settle Contract Dispute

Law360, New York (February 29, 2008, 12:00 AM EST) -- American Electric Power Co. Inc. has received $255 million from a Suez Energy North America Inc. subsidiary under the terms of a settlement that puts to rest a long-standing breach of contract dispute between the two companies.

AEP revealed the settlement amount, paid out by Tractebel Energy Marketing Inc. as part of a January settlement agreement, in its annual report filed Thursday with the U.S. Securities and Exchange Commission.

The settlement agreement came two months after the U.S. District Court for the Southern District of New...
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