Calpine Resolves Damages Claim With $16.5M

Law360, New York (January 16, 2008, 12:00 AM EST) -- Bankrupt energy company Calpine Corp. has agreed to pay $16.5 million to resolve a damages claim that arose after it terminated a gas transportation contract with Gulf South Pipeline Company LP.

The two parties first came to an agreement in December. The agreement was approved by Judge Burton R. Lifland of the U.S. Bankruptcy Court for the Southern District of New York on Tuesday.

Neither Calpine nor Gulf South admitted any wrongdoing in the matter.

“As far as we know, this is the end of the...
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