Judge OKs Calpine Settlement With Lenders

Law360, New York (August 9, 2007, 12:00 AM EDT) -- A bankruptcy judge has signed off on a $100 million settlement between Calpine Corp. and its second-lien lenders, saying the deal is in the troubled power company's best interests.

Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York gave the green light to the deal in an order Wednesday.

The judge said that the settlement “represents a fair, prudent and reasonable compromise ... and is in the best interests of the debtors, their estates and creditors taking into account,...
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