Energy Co. Rips Ex-Partner's $35M Claim In Power Plant Row

Law360, Houston (December 18, 2013, 7:54 PM EST) -- An Israel Corp. Ltd. subsidiary asked a Texas state court Wednesday to reject a former partner's demand for a $34.6 million cut from a payment the El Salvadoran government made to end a power purchase agreement, saying an earlier settlement barred the claim.

Inkia Salvadorian Power Ltd. said a 2010 settlement between Crystal Power Co. Ltd. and El Paso Corp. insulates it from several claims Crystal Power is pursuing in litigation revolving around the appropriate disposition of the Salvadoran government's $90 million payment, including Crystal Power's...
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.