Calpine's Disclosure Statement Gets The Go-Ahead

Law360, New York (September 25, 2007, 12:00 AM EDT) -- A federal judge on Tuesday gave Calpine Corp. the go-ahead to solicit creditor support for its reorganization plan, which calls for unsecured creditors to recover at least 95% of what they're owed.

At a hearing on Calpine's disclosure statement, Judge Burton Lifland of the U.S. Bankruptcy Court for the Southern District of New York rejected the official committee of equity holders' attempt to be included in a rights offering.

The judge also rejected a motion by certain bondholders to appoint a Chapter 11 trustee to take...
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