Leaf Clean Energy inches closer to getting full damages in Invenergy lawsuit

3rd May 2019 16:15

(Sharecast News) - Leaf Clean Energy updated the market on the Invenergy lawsuit on Friday, reporting that on 2 May, the Delaware Supreme Court issued its opinion in Leaf Invenergy Company versus Invenergy Wind, reversing the Court of Chancery's prior award of $1 in nominal damages to Leaf as a result of Invenergy Renewables' breach of the parties' limited liability company agreement.The AIM-traded firm said the state Supreme Court held that Leaf was entitled to damages in the full amount of its contractually-defined target multiple, and as a result, remanded the matter back to the Court of Chancery to enter judgment consistent with its decision."The forthcoming final judgement to be issued by the Court of Chancery upon remand will also factor in pre- and post-judgment interest, to the extent applicable, on the amount of the target multiple amount less amounts that were previously paid to Leaf," the board explained in its statement.