Parties Settle Dispute Over ESCO Ownership

The dispute over ownership of ESCO BluCo Energy, LLC has been settled, according to a FERC filing, with GoCom Corporation to acquire the company under a settlement

BluCo Energy, LLC is currently owned by Vantage Commodities Financial Services II, LLC, which acquired the company via a default under a credit agreement, though such ownership has been disputed by GoCom Corporation, which had, prior to such default, had entered into an agreement to acquire BluCo Energy. Vantage Commodities Financial Services II had argued that such acquisition agreement with GoCom Corporation was not permissible under its credit agreement with BluCo

Under the settlement agreement, Vantage Commodities Financial Services II, LLC and Vantage Commodities Financial Services, LLC will assign to GoCom Corporation all of their rights, title, and interests in and to the membership interests of BluCo Energy, LLC

GoCom Corporation is controlled by a four-member board. Isaac H. Sutton is its Chief Executive Officer, and Sutton Global Associates, Inc. is its largest shareholder and its only shareholder with more than a 10% equity interest in GoCom. GoCom is affiliated through common upstream ownership (via Sutton Global) with GoIP Global, Inc., a dormant corporation, and SavWatt USA, Inc., a supplier of energy-efficient LED lighting products