Calpine Wipes Away $1.1B In Claims

Law360, New York (June 14, 2007, 12:00 AM EDT) -- A federal bankruptcy judge has blessed a deal that Calpine Corp. reached earlier with landlords for two of its power plants in New England, allowing the energy provider to shed $1.1 billion in claims in its Chapter 11 case.

On Wednesday, U.S. Bankruptcy Judge Burton Lifland gave the green light to the pact, which will require Calpine to shell out $190 million to landlords Rumford Power Associates LP and Tiverton Power Associates LP of the Rumford power plant in Maine and the Tiverton power plant in...
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