Merrill Lynch sues Reliant over credit facility
Merrill Lynch has filed a suit with the New York Supreme Court claiming Houston-based Reliant Energy defaulted when it cancelled a $300m credit agreement on 5 December 2008.
In a filing to the Securities and Exchange Commission also made on 24 December 2008, Reliant said it believed it had the right to terminate. According to the statement: "The Working Capital Facility expressly provides that Reliant may at any time terminate the facility. We
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