CHICAGO (CN) – A federal judge ordered Multiut Corp. to pay more than $15 million to Dynegy Marketing and Trade for natural gas delivered between 2000 and 2002. U.S. District Judge John A. Nordberg’s decision settled Dynegy’s two claims and Multiut’s six counterclaims, which argued that Dynegy’s invoices were inflated because they failed to give Multiut price breaks as agreed or because they were based on an index price that Dynegy had manipulated by false trades.
Neither party disputed the $15 million owed, but Multiut claimed that the prices it agreed to pay were artificially inflated.
Multiut said Dynegy used Multiut’s confidential information for its own gain and sold natural gas at a more favorable price to another entity.
But Nordberg wrote, “First, Multiut relies almost exclusively on its own unilateral ‘understanding’ of vague conversations that took place many years ago, understandings that were never put in writing and that were never explicitly acknowledged by Dynegy. Second, for all but one of these counterclaims, Multiut has provided no evidence – either documents or an expert witness – to establish damages.”