Gordian Group acted as an Expert Witness for the Crescent Resources Litigation Trust in the case against Duke Energy
Case Study
Crescent Resources LLC
CLIENT: Crescent Resources Litigation Trust
Industries
Real Estate/Hospitality/GamingBusiness Profiles
Situation
Crescent was a real estate joint venture formed by Duke Energy in 2006 that filed for Chapter 11 bankruptcy protection in June 2009. On June 9, 2010, Crescent restructured and emerged from bankruptcy and Duke Energy forfeited its entire 50 percent ownership interest to Crescent debt holders.
On September 3, 2010, the Crescent Resources (Crescent) Litigation Trust sued Duke Energy along with various affiliates and several individuals, including current and former employees of Duke Energy, in the U.S. Bankruptcy Court for the Western District of Texas.
Outcome
On November 15, 2013 the parties reached a settlement.