Calpine, Creditors Challenge Holders Over Appeal

Law360, New York (October 11, 2007, 12:00 AM EDT) -- Calpine Corp.’s shareholders’ appeal of the company's disclosure statement confirmation is simply an attempt to delay the company’s emergence from bankruptcy and gain bargaining power, Calpine and its creditors said Tuesday.

In documents filed in the U.S. Bankruptcy Court for the Southern District of New York, Calpine and its official committee of unsecured creditors opposed the official committee of equity holders’ request for permission to appeal the court's confirmation of the disclosure statement, and asked the court to deny it. If the shareholders persist with their...
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