Deals
Kinder’s El Paso Ordered to Pay $171 Million Over Deal
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A Kinder Morgan Inc. unit was held liable for $171 million in damages for overpaying in an unfavorable pipeline deal that a judge found was foisted upon it by the parent company.
Directors of El Paso Pipeline Partners LP failed to properly protect investors by agreeing to a deal that forced the master limited partnership to buy El Paso Corp.’s interest in natural-gas pipelines at inflated prices, Delaware Chancery Court Judge Travis Laster concluded Monday.