Merrill Lynch sues Reliant over credit facility

On 24 December, Merrill Lynch filed an action with the Supreme Court of the State of New York asking for judgement on whether Reliant could terminate the agreement, a Working Capital Facility executed on 24 September 2006.

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 inte

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