California Group Attacks Calpine Disclosure Statement

Law360, New York (August 2, 2007, 12:00 AM EDT) -- The state of California has objected to Calpine Corp.’s disclosure statement in its Chapter 11 case, saying the utility did not provide enough information about its projected claim amounts, which could have a negative impact on unsecured creditors.

The California group, which includes the state Department of Water Resources, the state Electricity Oversight Board and the California attorney general, criticized a number of gaping holes in Calpine’s disclosure statement in the U.S. Bankruptcy Court for the Southern District of New York on Wednesday.

Calpine revealed in...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.