Calpine's $400M Spat With Rosetta Gets Go-Ahead

Law360, New York (October 25, 2007, 12:00 AM EDT) -- A judge has denied Rosetta Resources Inc.'s bid to toss a suit filed by bankrupt energy giant Calpine Corp., which claims to have been underpaid by $400 million when it sold Rosetta its oil and gas business for $1.05 billion.

Rosetta had protested that Calpine lacked standing to assert a fraudulent transfer claim and that the Delaware bankruptcy court where it is pending lacked jurisdiction over the adversary suit.

A fraudulent transfer suit was a remedy only for the benefit of creditors, not for the debtor...
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