Calpine Asks To Sell $140M Solutia Claim

Law360, New York (October 24, 2007, 12:00 AM EDT) -- Though power company Calpine Corp. holds a $140 million claim in the bankruptcy proceedings of Solutia Inc., the bankrupt energy provider is looking to sell its interest in Solutia, reasoning that the sale may net the company a bigger profit than Solutia could ever pay out.

In a motion filed on Monday in the U.S. Bankruptcy Court for the Southern District of New York, Calpine asked the court for permission to sell the claim, telling the court that claims in Solutia's bankruptcy are now trading at...
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