For Calpine Stakeholders, Plan Participation Was Key

Law360, New York (April 24, 2008, 12:00 AM EDT) -- One of the hallmarks of Chapter 11, and bankruptcy jurisprudence in general in the United States, is the fundamental right of creditors and other stakeholders to have a meaningful voice in the proceedings concerning matters that affect their economic interests.

In a Chapter 11 case, this means that any stakeholder has the right to bring to the court’s attention any grievance or concern that it may have concerning any aspect of the bankruptcy case, including, among other things, any perceived inadequacy in measures proposed by the...
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