Court

In its lawsuit, Allegheny Energy has asked the New York Supreme Court, where the complaint was filed, to rescind the purchase agreement, in effect reversing the transaction, and require Merrill Lynch to give it back money that it paid to purchase GEM. Allegheny Energy also wants the investment firm to pay punitive and compensatory damages of at least $475 million.

The Minerals Management Service (MMS) said that despite a four-month, court-ordered computer network shutdown, the government agency has distributed more than $318 million to 32 states during the first six months of 2002. Leading the pack for MMS distributions received so far this year was Wyoming with $164.7 million, New Mexico $88.5 million, Colorado $16.4 million and Utah with $11.1 million. The money represents the states’ cumulative share of revenues collected for mineral production on federal lands located within their borders and from federal offshore oil and gas tracts adjacent to their shores. “This year’s halfway total is less than last year’s record $656 million, but is close to the 2000 figure of $362 million,” said Interior Secretary Gale Norton. “The numbers largely reflect a recent decline in prices of crude oil and natural gas.”

Pacific Gas and Electric Co., San Francisco, got permission last Wednesday from a federal district court to appeal an earlier decision by the judge in its 15-month-old Chapter 11 bankruptcy proceedings. The decision says the utility’s proposed reorganization plan may not preempt 36 California state laws applying to its business as a regulated utility.

Responding to creditor’s concerns, Enron’s bankruptcy court judge has granted a request for the appointment of an examiner to monitor cash flow at Enron North America. Judge Arthur J. Gonzalez appeased creditors by approving the installation of an examiner, but refused their demands that Enron N.A. be allowed to control its own finances.

A Calgary judge on Thursday rejected a bid by Enron Canada, a unit of Enron Corp., for a court order to prevent contract cancellations by Canadian marketers and producers. The move effectively will push Enron Canada into insolvency and bankruptcy is expected.

A new class-action lawsuit filed Tuesday in U.S. District Court claims Enron Corp. recklessly endangered its employees’ retirement funds, causing some of them to lose hundreds of thousands of dollars almost overnight. The suit was filed by Steve Berman of the Seattle-based law firm Hagens Berman on behalf of a proposed class of participants in the Enron Stock Plan.

Pacific Gas and Electric Co. on Thursday obtained the federal bankruptcy court’s approval to spend $39.5 million to upgrade a 425-mile portion of its California natural gas transmission pipeline known as the “Redwood Path,” running from Malin, OR, at the California border to a point in San Benito County south of San Jose, CA. The proposed expansion will add about 200 MMcf/d capacity that the utility said has been operating at about 95% capacity since 1998.

The Mid-Atlantic Power Supply Association (MAPSA) has filed a petition before the Pennsylvania Commonwealth Court requesting a review of an order issued by the Pennsylvania Public Utility Commission (PUC) that MAPSA claims will bail out GPU utilities at the expense of electric customers and competitors.

The Mid-Atlantic Power Supply Association (MAPSA) has filed a petition before the Pennsylvania Commonwealth Court requesting a review of an order issued by the Pennsylvania Public Utility Commission (PUC) that MAPSA claims will bail out GPU utilities at the expense of electric customers and competitors.