Calpine Plan Approved, Highly Unusual Settlement
Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York approved the reorganization plan at a hearing on Wednesday. The company is now set to emerge from Chapter 11 by Feb. 7, the deadline to close on its $7.6 billion exit financing.
Under the settlement, Calpine's stipulated post-bankruptcy...
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