FERC, Bankruptcy Court Approve Calpine's $4.5M Fine

Law360, New York (May 9, 2007, 12:00 AM EDT) -- The Federal Energy Resources Commission on Monday approved a settlement with Calpine Corp., in which the bankrupt energy provider will pay $4.5 million to end allegations of gas pipeline misuse.

FERC’s announcement came the same day that the U.S. Bankruptcy Court for the Southern District of New York, which is overseeing Calpine’s bankruptcy case, approved the settlement which was submitted as a motion to the court in mid-April.

The bankruptcy court approved the issuance of a $4.5 million unsecured prepetition claim to FERC. Under the terms...
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