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Calpine Investors Cry Foul At Proposed $100M Deal

Law360 (August 3, 2007, 12:00 AM EDT) -- As Calpine Corp. flounders in Chapter 11 in efforts to sell off assets and settle with creditors, the electric company's shareholders are denouncing its proposed $100 million settlement with lenders, saying the deal will come at their own expense.

Documents filed Wednesday in the Manhattan district court drove home the shareholders' committee's opposition to the deal, alleging that the lenders were unentitled to damages and that the proposed $100 million deal wouldn't actually benefit the debtors, as lenders would still retain all rights to claims....
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