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NextEra Rejected by Top Court, Won’t Get $275M Oncor Breakup Fee

April 29, 2019, 2:11 PM

Supreme Court refuses to hear appeal, leaves intact ruling that denied NextEra $275 million breakup fee after failure of effort to buy controlling stake in Oncor Electric Delivery.

Legal fight stemmed from bankruptcy of Energy Future Holdings, which owned 80% stake in Oncor.

Supreme Court rejection is win for Elliott Management and other creditors, which could have seen their payouts reduced.

Bankruptcy judge originally approved termination fee, then decided he had made a mistake.

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