Tc Energy Corporation (TSE:TRP) has released an update.
TC Energy Corporation has announced its intention to appeal a Delaware Chancery Court decision which found the company partially liable for damages related to its acquisition of Columbia Pipeline Group Inc. in 2016. The court ordered TC Energy to pay 50% of the $398.4 million in damages, amounting to $199.2 million plus interest, which TC Energy disputes as a misinterpretation of Delaware law. While the appeal process is expected to extend into mid-2025, TC Energy will post a bond instead of paying the damages award during the appeal.
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