Description: Action alleging that university fraudulently backed out of carbon sequestration project.
Savoy Energy, LLC v. New Mexico Institute of Mining & Technology
Filing Date Type File Action Taken Summary 08/06/2010 Stipulation Download Stipulation of dismissal filed. 01/04/2010 Complaint Download Complaint filed. An energy company filed suit against a New Mexico university, alleging that the university fraudulently backed out of a $10 million contract for the company to operate a Utah gas field as part of a government-sponsored carbon sequestration project. According to the complaint, the university used the company as a “stop-gap contractor” in order to maintain funding from the U.S. Department of Energy, which later awarded the project to the school. The complaint alleges that the university breached the contract between the entities given that the partnership could only be ended “for cause.”