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Fracking Company Has Valid Claim For Promissory Estoppel In $25M Fracking Dispute

Mealey's (June 18, 2015, 9:28 AM EDT) -- LAFAYETTE, La. — A federal judge in Louisiana on Feb. 11 partially dismissed and partially denied motions to dismiss a lawsuit brought for the repayment of a $25 million loan that was slated to be used to launch a hydraulic fracturing business, ruling that the parties that defaulted on the loan have a legitimate claim for promissory estoppel (GE Oil & Gas Inc. v. Turbine Generation Services LLC, et al., No. 14-00760, W.D. La.; 2015 U.S. Dist. LEXIS 16912).

(Opinion available. Document #94-150310-001Z.)

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