On December, 20, 2010, the Court of Chancery ruled in favor of Decker Energy-Cadillac, Inc., the former owner of a 38-megawatt biomass-fueled power plant in Cadillac, Michigan, in a contract dispute with the purchaser of its interest in the plant. Decker initiated the action in September 2009, seeking a judicial resolution, specific performance and damages as a result of a breach of the purchase agreement entered into with the defendants, pursuant to which Decker was entitled to a portion of certain variable energy payments received by the plant from Consumers Energy Company, the local utility.
During argument on the parties’ cross-motions for summary judgment, the court ruled from the bench, awarding Decker past amounts due under the contract, plus interest, and granting Decker an entitlement to a stream of future payments in accordance with the terms of the purchase agreement. Decker was also awarded its attorneys’ fees and expenses incurred in pursuing the action.
A team of Ashby & Geddes attorneys from the Commercial Litigation and Counseling practice group, including Philip Trainer, Jr. and Toni-Ann Platia, represented Decker in this action.