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Upset Grows Over Calpine Disclosure Statement

Law360 (September 20, 2007, 12:00 AM EDT) -- Another objection has been raised against Calpine's recent disclosure statement, with one of the indenture trustees becoming the latest to protest the energy company's outline for emerging from Chapter 11.

On Wednesday, Wilmington Trust Company expressed its disapproval regarding Calpine's recent disclosure statement, adding another note of discord to the din surrounding the proposed plan.

“This court should deny the Disclosure Statement Motion because the disclosure statement describes an unconfirmable plan,” the motion said. “The proposed plan states that the second lien debt claim is 'unimpaired'...
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