Calpine Agrees To Lift Of Stay For Geysers Fire Suits

Law360, New York (November 12, 2007, 12:00 AM EST) -- Calpine Corp. consented Friday to a lifting of the automatic stay on three state court actions attempting to hold the bankrupt power company responsible for a 2004 forest fire in northern California.

Also on Friday, Calpine moved to settle with several creditors that said they would be owed interest for loans to subsidiary Calpine Generating Co. (CalGen).

Calpine and the so-called Geysers Fire Claimants signed and filed a stipulation modifying the automatic stay in the U.S. Bankruptcy Court for the Southern District of New York....
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