Pipeline Co. Owes Natural Gas Supplier $5.6M For Broken Deal
Law360 (September 3, 2019, 9:26 PM EDT) -- A Texas judge has awarded natural gas supplier Rainbow Energy Marketing Corp. more than $5.6 million after a bench trial from earlier this year determined that another company had breached its agreement to let Rainbow access its pipeline
In a two-page final judgment signed on Aug. 29, Harris County District Court Judge Tanya Garrison ordered that American Midstream (Alabama Intrastate) LLC pay Rainbow roughly $5.16 million for the profits it lost when it couldn't get access to American Midstream's pipeline, plus about $450,000 in prejudgment interest.
The judge also ordered American Midstream to pay post-judgment interest of 5.45% on the lost...
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