Chancery Told Troubled Solar Project Entity Should Survive
Law360, Wilmington, Del. (February 24, 2020, 10:22 PM EST) -- A Delaware vice chancellor was urged Monday not to dissolve the operating entity for a federally funded $1 billion solar energy project in Tonopah, Nevada, arguing an indirect owner seeking to break up the venture has no standing to pursue such action.
During a hearing in Wilmington, Tonopah Solar Energy LLC told Vice Chancellor Joseph R. Slights III managers should be given more time to possibly turn the troubled and non-functional plant's prospects around.
"There is no basis here for equitable dissolution," Tonopah's attorney Todd G. Cosenza of Willkie Farr & Gallagher LLP told the vice chancellor.
Allegations made in a...
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