Court Tosses Hundreds Of Claims Against Calpine

Law360, New York (November 2, 2006, 12:00 AM EST) -- A Manhattan bankruptcy court has expunged hundreds of claims against Calpine Corp., relieving the embattled energy provider of potentially billions of dollars in liabilities.

On Tuesday, U.S. Bankruptcy Judge Burton Lifland dismissed over 400 claims facing Calpine, which totaled nearly $10 billion.

“The relief requested in the objection including, without limitation, the expungement and the disallowance of these proofs of claim, is in the best interests of the debtors, their estates and their creditors,” the court ruled.

The beleaguered energy provider had filed a motion with...
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