Calpine Aims For Flying J's $9.7M Emission Credits

Law360, New York (October 14, 2009, 1:53 PM EDT) -- Calpine Energy Services LP is making a grab for the emission reduction credits bankrupt oil company Flying J Inc. has agreed to sell to a new low-carbon power company, contending the private $9.7 million sale improperly bars Calpine’s superior offer for the credits.

On Tuesday, Calpine urged Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware to deny Flying J’s sale of the emissions reduction credits to Hydrogen Energy California LLC and instead approve Calpine’s jilted bid because it provides the...
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