1st Jul 2016 14:08
LONDON (Alliance News) - Leaf Clean Energy Co said on Friday said a court in Delaware, US has granted its motion for partial judgement on its claim that Invenergy Wind LLC was required to obtain Leaf's consent over a sale of assets or make a payment to Leaf on the closing of the deal.
Leaf owns a 2.3% stake in Invenergy, which develops, owns and operates wind power generation facilities in North America and Europe.
In December, Leaf filed a court complaint in the US against Invenergy seeking payment of USD126.0 million over allegations that Invenergy did not seek Leaf's consent for the sale of power generation facilities to TerraForm Power Inc and, then in April, filed a motion for a partial judgement on the pleadings.
On Friday, Leaf said it had been granted the motion by a court. The court rulings did not determine the amount of damages to which Leaf is entitled, which Leaf said will require further proceedings. Leaf said it was working with its advisors to determine damages and pursue its claims.
Shares in Leaf were up 4.4% at 36.00 pence on Friday.
By Hannah Boland; [email protected]; @Hannaheboland
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