TC energy in Canada has a $ 199 million loss in Dilayer’s call to Colombia seizure

Written by Jonathan Stempble

(Reuters) -On Tuesday, the highest judge who requires the Canadian TC Airlines operator to pay $ 199.2 million in damage to the purchase of a collection of $ 13 billion in Colombia pipelines in 2016.

The case was submitted by the shareholders of Colombia who wanted TC Energy responsible for reducing the acquisition price to $ 25.50 per share from $ 26, allowing former Colombia President Robert Sakags and financial manager Stephen Smith to collect significant change payments in the change known as Golden Parachutes.

In May 2024, Deputy Chancellor Travis Laster from the Dilayer Chansiri Court in Colombia was awarded 50 cents per share, equivalent to $ 199.2 million.

But the Supreme Court of Dilayer was martyred in its ruling in December 2024 in another case that buyers such as TC Energy could be responsible for helping the seller’s seller for credit duty only if they were aware of violation and that their behavior was wrong.

“For understandable reasons, this criterion has not been applied here,” and despite the “mountainous experiments record” the standard has not been fulfilled, Judge Gary Trinor wrote in a 100 -page decision on a committee of five judges unanimously.

“The Chinese court did not find that Tranceada had actual knowledge of Scarcs and Samith’s violation of loyalty, or that the Colombia Council failed to maintain useful supervision of the sale,” said Traineor.

“It lacks the actual knowledge of the violations of the sale side, it was not possible for Transcanada on it on intentionally.”

Columbia’s shareholders’ lawyers did not respond immediately for the comment requests after working hours. TC Energy and its lawyers immediately did not respond to similar requests.

Skaggs and Smith agreed before the trial to pay $ 79 million to settle with Colombia shareholders.

The case is present in the Roll Pipeline Group Inc, the Supreme Court of Delaware, No. 281, 2024.

(Participated in the reports of Jonathan Stempble in New York; edited by Lisa Shomker)