TC Energy Faces Setback In Pursuit Of NAFTA Damages: Details
Portfolio Pulse from Lekha Gupta
TC Energy Corporation (NYSE:TRP) faces a setback as the Tribunal overseeing its $15 billion NAFTA damages claim ruled it cannot proceed. The decision is based on the USMCA replacing NAFTA, which limits protection to breaches before July 1, 2020. TRP shares are trading slightly lower premarket.
July 17, 2024 | 10:56 am
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NEGATIVE IMPACT
IPath Select MLP ETN (BATS:ATMP) might see a minor negative impact due to its exposure to TC Energy, which is facing a legal setback.
ATMP has exposure to TC Energy, and the legal setback faced by TC Energy could slightly impact the ETN's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
VanEck Energy Income ETF (NYSE:EINC) may experience minor negative impact due to its exposure to TC Energy, which faces a legal setback.
EINC has exposure to TC Energy, and the legal setback faced by TC Energy could slightly impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
TC Energy's $15 billion NAFTA claim has been dismissed by the Tribunal due to jurisdictional issues under the USMCA. This ruling could negatively impact investor sentiment and the stock price in the short term.
The Tribunal's decision to dismiss the $15 billion NAFTA claim is a significant legal setback for TC Energy. This ruling could lead to negative investor sentiment and a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100