Investors say they were duped into a $100 million deal to finance the construction of two power plants in Texas, according to a filing in a state court.
Castleman Power Development LLC’s fraud left the investors with power plants that were “uneconomic” under the terms secretly negotiated with Shell Energy North America LP, according to the filing in the Texas District Court.
The court should also block Castleman Power Development from divesting itself of assets that would satisfy at least some of the damages, Rockland Power Partners III LP, Paucitas Energy Holdings LLC, and AEV Projects LLC argue.
Castleman said ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.