Dispute Over Use of Natural Gas Storage Facility
In AEP Energy Servs. Gas Holding Co. v. Bank of Am., N.A., No. 08-4196, an action against two banks in alleging a superior right to continue to use the gas in a natural gas storage facility, the court affirmed in part summary judgment for defendants the district court was correct that defendant retained a valid security interest in the gas under the operative agreements, and the plaintiffs’ refusal to return the gas thereafter constituted conversion. However, the order is reversed in part where defendants could identify no special circumstances sufficient to overcome the presumption in favor of adjudication of the Tort and Contract Claims in the Texas District Court, where the action was originally filed prior to transfer.
Related Resources
- Read the Second Circuit’s Decision in AEP Energy Servs. Gas Holding Co. v. Bank of Am., N.A., No. 08-4196
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