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COUNTY OF SUFFOLK v. LONG ISLAND POWER AUTHORITY

No. 98-CV-5996(ARR).

154 F.Supp.2d 380 (2000)

COUNTY OF SUFFOLK, Town of Huntington, and Town of Babylon, Plaintiffs, v. LONG ISLAND POWER AUTHORITY, Richard M. Kessel, As Chairman of the Long Island Power Authority, Keyspan Energy, Inc., Long Island Lighting Company, William J. Catacosinos, Theodore A. Babcock, James T. Flynn, Joseph E. Fontana, Robert X. Kelleher, John D. Leonard, Jr., Adam M. Madsen, Kathleen A. Marion, Joseph W. McDonnell, Leonard P. Novello, Richard Reichler, William O. Schiffmacher, Robert B. Steger, William E. Steiger, Jr., and "John Does", Defendants.

United States District Court, E.D. New York.

August 14, 2000.

Attorney(s) appearing for the Case

Irving Like, Reilly, Like, Tenety & Ambosino, Babylon, NY, for County of Suffolk, Town of Huntington.

William Douglas Wexler, North Babylon, NY, for Town of Babylon.

Kenneth A. Novikoff, Rivkin, Radler & Kremer, Uniondale, NY, for Long Island Power Authority, Richard M. Kessel.

John E. Reilly, Keyspan Energy, Hicksville, NY, for Keyspan Energy, Inc.

John B. Grant, Jr., Greenberg Traurig, LLP, New York City, for William J. Catacasinos.

Guy Miller Struve, Davis Polk & Wardwell, New York City, for Theodore A. Babcock, Joseph E. Fontana, Robert X. Kelleher, John D. Leonard, Jr., Kathleen A. Marion, Joseph W. McDonnell, Leonard P. Novello, Richard Reichler, William O. Schiffmacher, Robert B. Steger, William E. Steiger, Jr.

OPINION AND ORDER

ROSS, District Judge.

Plaintiffs, Town of Huntington and Town of Babylon, bring this action pursuant 42 U.S.C. § 1983 seeking a declaration that by virtue of having purchased electricity from defendant Long Island Lighting Company ("LILCO") they have a property or contract-based right to capital gains and "excess" deferred taxes allegedly realized upon the acquisition of LILCO by the Long Island Power Authority ("LIPA"). Plaintiffs...

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