Liquidators for Independent Energy advised on claims
Clients White, Richard and Jacob, Ipe
Jones Day advised the liquidators of Independent Energy Holdings plc, formerly the largest independent marketer of electricity in the United Kingdom, in relation to claims in the estate totaling over £100 million. These included claims by former directors of Independent Energy Holdings plc, claims relating to inter-company balances with group companies, guarantee claims relating to the liabilities of subsidiaries and significant New York law claims by the underwriters of a secondary offering of American Depository Shares (and their assignees) under an indemnity provided by Independent Energy Holdings plc in the underwriting agreement following the settlement of class action proceedings brought by shareholders. The representation involved coordination between the lawyers in the London and New York offices.