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Calpine Rehashes Grim Year For SEC

Law360 (May 19, 2006, 12:00 AM EDT) -- The amount claimed in embattled power producer Calpine Corp.'s bankruptcy case might significantly exceed the company's total debt of $17.4 billion but those numbers would not accurately reflect the liabilities owed, said the company in its annual report to the U.S. Securities and Exchange Commission.

On Friday, Calpine filed its 2005 business recap with the SEC, after months of delaying the report due to the company’s complicated Chapter 11 case, one of the largest ever filed in bankruptcy history.

The fallen energy giant announced that the...
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