Bankrupt Crescent Settles With Duke Over $1.6B Debt Deal

Law360, Los Angeles (January 8, 2014, 9:46 PM EST) -- Crescent Resources LLC's trustee and Duke Energy Corp. asked a Texas federal judge Tuesday to dismiss a lawsuit over a 2006 debt transaction that allegedly left the real estate investment company insolvent while Duke raked in $1.6 billion, saying they had reached a settlement.

The joint stipulation of dismissal with prejudice did not contain details of the deal but said the parties had settled all matters that were in dispute between them in the bankruptcy suit and other related litigation.

Each party will bear its own...
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