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FERC Asked To Defer Ruling On Retail Supplier Acquisition Filings Pending Resolution of Disputed Ownership
GoCOM Corporation has asked FERC to defer ruling on dueling applications to reflect the acquisition of retail supplier Bluco Energy, LLC by either GoCOM Corporation, or separately, Vantage Commodities Financial Services II, LLC.
As previously reported, GoCOM Corporation avers that it acquired Bluco Energy in November.
However, Vantage avers that, under a credit agreement it had with Bluco, such transfer was not lawful. Vantage later foreclosed Bluco and avers that it acquired the company in an auction.
GoCOM Corporation noted that ownership of Bluco is now an outstanding dispute before the New York Supreme Court.
GoCOM Corporation asked that FERC defer on ruling on Vantage's application for authorization to acquire Bluco, as well as GoCOM's own application, pending resolution of litigation
FERC Docket No. EC15-75
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April 13, 2015
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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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