Calpine Unit Says $2M Claim Is Actually $10M Debt

Law360, New York (June 4, 2008, 12:00 AM EDT) -- A Calpine Corp. subsidiary has asserted that a Reliant Energy Inc. unit miscalculated the balance resulting from an energy contract, leading the Reliant company to lodge a faulty $2 million unsecured claim against Calpine when in fact it owes the formerly bankrupt power company $10.6 million.

Calpine Energy Services LP filed an adversary complaint in its Chapter 11 case Tuesday in the U.S. Bankruptcy Court for the Southern District of New York.

The unit accused Reliant Energy Electric Solutions LLC of breaching the parties' contract, objected...
To view the full article, register now.