Panda, Calpine Settle $200M Contract Dispute

Law360 (October 16, 2008, 12:00 AM EDT) -- Panda Energy International Inc. and Calpine Corp. have settled a dispute over $200 million in claims Panda asserted on Calpine's estate in connection with several power plant projects.

The two companies reached the deal after “extensive settlement negotiations,” according to a joint motion they filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York. The terms of the deal were not disclosed.

The bankruptcy court had denied Panda's claims in August, and Panda appealed. The companies are now asking the court to...
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