Enterprise Products ordered to pay $535M in pipeline dispute


A Texas judge ruled late Tuesday that Enterprise Products Partners (EPD -0.8%) must pay $535M to Energy Transfer Partners (ETP -0.3%) that a jury said EPD owed after backing out of a joint venture to build a crude oil pipeline.

In addition to the $319M jury award for damages, the judge ordered EPD to pay $150M in disgorged profits and $66M in pre-judgment interest accrued since late 2011; additional interest would boost the total to $620M by July 2017.

EPD is expected to appeal the case with so much at stake.

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Comments (3)
  • Pablomike
    , contributor
    Comments (4414) | Send Message
     
    Long ETP so the next sound you hear, pfffft!!!, is me opening a cold beer. To the jury!!!
    30 Jul 2014, 04:49 PM Reply Like
  • Brad Castro
    , contributor
    Comments (1402) | Send Message
     
    LOL - best comment of the day.
    31 Jul 2014, 11:00 PM Reply Like
  • acesfull
    , contributor
    Comments (435) | Send Message
     
    So how much for the lawyers?
    30 Jul 2014, 05:56 PM Reply Like
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