Equity Holders Try To Thwart Calpine Hearing

Law360, New York (September 21, 2007, 12:00 AM EDT) -- Calpine's official committee of equity holders is attempting to derail an upcoming hearing on the energy company's disclosure statement, arguing that there is no point to the proceedings since the proposed Chapter 11 plan is unconfirmable.

On Thursday, the equity holders filed an emergency motion in the U.S. Bankruptcy Court for the Southern District of New York, begging the judge to call off Tuesday's hearing in light of Calpine's recently filed second amended disclosure statement and Chapter 11 plan.

“Less than a week prior to the...
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