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Calpine Asks To Take Over Power Plant

Law360 (May 22, 2007, 12:00 AM EDT) -- Bankrupt energy company Calpine Corp. has asked for court permission to take over the lease for a New York power facility, arguing that the profitable plant will boost the company’s revenues.

Calpine asked the U.S. Bankruptcy Court for the Southern District of New York on Friday to allow the company to assume control of the KIAC power generation facility, a 110 megawatt co-generation power plant located in Queens.

KIAC Partners, which is partially owned by Calpine, provides steam and electric power to the New York and...
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