Delaware's highest court on Tuesday overturned a judge's order that required Canadian pipeline operator TC Energy to pay $199.2 million in damages. The damages stemmed from its $13 billion acquisition of Columbia Pipeline Group in 2016.
This legal victory eliminates a significant financial liability for TC Energy, positively impacting its financial outlook. The original order had been a point of contention for the company since its issuance.
The decision by Delaware's highest court provides a favorable resolution to a long-standing legal dispute, removing a substantial financial obligation from TC Energy's balance sheet.
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