TRP - TC Energy Faces Setback In Pursuit Of NAFTA Damages: Details | Benzinga
TC Energy Corporation (NYSE:TRP) shares are trading slightly lower premarket today. The company expressed disappointment after the Tribunal overseeing its claim for over $15 billion in damages has determined in a jurisdictional ruling that the claim cannot proceed.
The claims resulted from the January 20, 2021 revocation of the Presidential Permit for the Keystone XL Project.
The Tribunal’s decision, based on Annex 14-C of the USMCA replacing NAFTA on July 1, 2020, found that while investments under NAFTA were protected until July 1, 2023, this protection applies only to breaches occurring before July 1, 2020.
Thus, ...