We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Calpine's Shareholders Denied Request For Stay

Law360 (October 4, 2007, 12:00 AM EDT) -- A federal judge has shot down an attempt by Calpine Corp.'s shareholders committee to stay the company's bankruptcy proceedings until after the committee appeals the approval of the energy company's disclosure statement.

In an opinion issued Thursday, Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York said the shareholders had not met the burden for a stay, and that the balance of harm favored Calpine.

“A delay of the confirmation process may seriously jeopardize the debtors’ ability to emerge...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.