Goldman Lawsuit Against Energy Transfer Unit Lives on: Hearing

U.S. Bankruptcy Judge John T. Dorsey rules that a lawsuit brought by owners of EdgeMarc Energy Holdings LLC against an Energy Transfer LP unit must be heard in New York state court, declining to dismiss the suit.

• Investment funds associated with Goldman Sachs & Co. LLC and the Ontario Teachers’ Pension Plan Board are seeking $150 million in damages, alleging they invested additional money in gas driller EdgeMarc under false pretenses put forth by ETC Northeast Pipeline LLC
  • EdgeMarc filed for bankruptcy last year after a portion of pipeline that ETC built exploded in Pennsylvania
  • “At best, ETC ignored the ...