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Calpine Requests More Exclusivity Time

Law360 (November 28, 2006, 12:00 AM EST) -- Power generator Calpine Corp. wants its exclusivity period to file a reorganization plan extended for at least six more months, though it acknowledged that it might not make that deadline either.

In papers filed last Wednesday with the U.S. Bankruptcy Court in Manhattan, Calpine said the complexity of the case – which involves 274 debtors and $18 billion of funded debt – warrants an extension of the exclusivity cut-off date.

“Calpine simply cannot rush 274 reorganization cases to the cusp of confirmation before the end of...
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