Nearing Emergence, Calpine Gets Approval For Deals

Law360, New York (November 28, 2007, 12:00 AM EST) -- A judge has signed off on settlements between Calpine Corp. and a commodity arm of Goldman Sachs and on a deal with the first priority debt representatives of subsidiary Calpine Generating Company LLC.

Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York agreed to the deals Tuesday.

The settlement with J. Aron & Company, which is the commodities division of Goldman Sachs, calls for Calpine to receive about $530,000. In return, J. Aron will keep nearly $12 million of...
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