Shareholders Claim Calpine Ch. 11 Plan Lowballs Value

Law360, New York (January 14, 2008, 12:00 AM EST) -- A group of shareholders in Calpine Corp., unhappy with the bankruptcy court's decision to approve Calpine's Chapter 11 plan, is claiming that the company's reorganization plan undervalues the debtors by billions of dollars.

In the latest skirmish over how much San Jose, Calif.-based Calpine is worth, Compania International Finceria SA, Coudree Global Equities Fund, Standard Bank of London and Leonardo Capital Fund SPC filed reply papers on Monday in support of their Dec. 31 motion for reconsideration of the confirmation order, as well as the court's...
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