U.S. Reps. Peter DeFazio (D-OR) and Greg Walden (R-OR) have introduced two bills that seek to bar energy suppliers from engaging in questionable “round-trip” and “wash” trading transactions for electricity. The measures do not address similar trades for natural gas, a DeFazio spokeswoman said, but she noted the lawmakers may add gas later.
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Articles from Greg
Former Canadian 88 CEO Sued for Takeover Attempt
Greg Noval, who founded and ran Canadian 88 Energy Corp. for 14 years only to be ousted last year when Duke Energy Corp. bought a 20% stake in the company, now faces not only being kicked off the board of directors but also a C$150 million lawsuit filed against him by Canadian 88, which alleges Noval breached his fiduciary duties as a director for attempting a hostile takeover. The lawsuit seeks C$140 million in damages for Noval’s breach of fiduciary duty and C$10 million in general damages.
July 16, 2001
Former Canadian 88 CEO Sued for Takeover Attempt
Greg Noval, who founded and ran Canadian 88 Energy Corp. for 14 years only to be ousted last year when Duke Energy Corp. bought a 20% stake in the company, now faces not only being kicked off the board of directors but also a C$150 million lawsuit filed against him last week by Canadian 88, which alleges Noval breached his fiduciary duties as a director for attempting a hostile takeover. The lawsuit seeks C$140 million in damages for Noval’s breach of fiduciary duty and C$10 million in general damages.
July 12, 2001
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