Judge Shoots Down Probe Of Calpine Units

Law360, New York (October 24, 2007, 12:00 AM EDT) -- A judge has denied a request by a Calpine Corp. bondholder for a probe into whether the leaders of two units of the energy company submitted false financial statements to the U.S. Securities and Exchange Commission.

Judge Burton Lifland of the U.S. Bankruptcy Court in the Southern District of New York on Wednesday denied the motion by the Manufacturers & Traders Trust Company to appoint a committee or an examiner to look into Calpine Generating Company LLC and CalGen Finance Corp.

M&T, which is the indenture...
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