A federal appeals court in a split decision rules the owner of Florida's largest public utility can't collect the negotiated termination fee.
September 13, 2018 at 05:46 PM
1 minute read
The original version of this story was published on Delbizcourt/delbizcourt
A federal appeals court upheld a decision blocking FPL Group’s parent from collecting a $275 million merger termination fee in the bankruptcy case of Energy Future Holdings Corp. and a subsidiary.
The precedential decision published Thursday by U.S. Court of Appeals for the Third Circuit concluded the lower court judge was correct to backtrack on an initial order allowing Juno Beach-based NextEra Energy Inc. to claim the breakup fee.
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