Judge John B. Board of Randall County ruled today that the 2008 court ruling which created High Plains Diversified Energy Corporation was not valid and that W.T.M.P.A. did not have the authority to create High Plains. Because High Plains was illegally created, High Plains has no authority to issue 1.575 billion in bonds to buy two power plants in Odessa. The court dismissed the suit and effectively ended the purchase of the power plants. High Plains indicated to the court that it would appeal.
The long saga which began in January with the announcement by High Plains of its intent to purchase the two power plants ended in the court room today with a whimper and not a bang. And that is a fortunate thing for the taxpayers of Lubbock. My thanks to the Lubbock City Council and the Odessa City Council for protecting the citizens of their respective communities from this power grab.