Holders Slam Calpine For Ending Rights Offering Talks

Law360, New York (September 13, 2007, 12:00 AM EDT) -- Bankrupt Calpine Corp.’s shareholders want to know what caused the company to disband negotiations over the addition of a proposed equity rights offering to Calpine’s reorganization plan, and have asked the bankruptcy court to grant them permission to investigate the matter.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, the bankrupt energy company’s official committee of equity security holders requested depositions and the production of documents so that it can proceed with a “narrowly defined” examination of...
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