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Closing arguments held in trial over sale of Bellefonte Nuclear Plant

Published: Jul. 1, 2021 at 7:50 PM CDT
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HUNTSVILLE, Ala. (WAFF) - A years-long legal battle over the future of the Bellefonte Nuclear site in Jackson County will soon be decided.

Closing arguments were heard in court Thursday and attorneys for Nuclear Development and the TVA both had an opportunity to issue closing thoughts before a judge makes the final decision.

Five years ago, the owner of Nuclear Development Franklin Haney agreed to buy the plant from TVA for $111 million.

Two weeks before the closing date in November of 2018, TVA raised concerns over the sale because Nuclear Development had not secured a transfer of construction permits from the Nuclear Regulatory Commission.

TVA officials stated the application was submitted less than a month before the closing.

In court, officials with Nuclear Development argued the reason TVA didn’t sign on the sale is due to a separate, pending, agreement with the city of Memphis and its utility provider.

Nuclear Development’s legal team is seeking more than $30 million in damages due to the fallout from the failed deal. TVA argues the company is not liable to pay those damages.

“Any time that there are legal questions that need to be addressed obviously the court system is the appropriate place to do that. In this case, nuclear development has questions about money owe to TVA since the deal did not complete. We disagree with the reasoning behind some of those and that’s the reason we are in court and we will let the court make those decisions and determine the best form of action from there,” said Jim Hopson, spokesperson for TVA.

There is no jury involved in this case. The judge will make the verdict which could take up to several weeks.

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