Calpine Seeks To Preserve $1.2B In Tax Savings

Law360, New York (December 6, 2006, 12:00 AM EST) -- Calpine Corp. has asked a bankruptcy court to help the energy company hold on to $1.2 billion in tax savings that could boost recovery for creditors.

The company requested Monday that the U.S. Bankruptcy Court for the Southern District of New York set a deadline to decide how to handle future trades of its unsecured claims. Calpine said it needed to figure out the trading issue soon or it might not be able to use the tax benefits, according to court documents.

“Calpine believes that further...
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