October 23, 2018 / 11:54 PM / 4 months ago

Exco says 'divisional merger' a shield from midstream operator's claims

Bankrupt energy producer Exco Resources Inc said on Monday it was entitled to shed some $237 million in claims by midstream operator Enterprise Products Partners over contracts transferred to and then terminated by a new company formed in a so-called divisional merger.

Exco in a filing in U.S. Bankruptcy Court in Houston called for summary judgment in its favor in the claims dispute, arguing a company it spun off, Raider Marketing GP, took ownership of the contracts with Enterprise in a 2016 divisional merger and had the right to terminate them.

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