Calpine Bids For Right To Settle Certain Claims

Law360, New York (August 11, 2006, 12:00 AM EDT) -- In a move to streamline the claims approval process in its bankruptcy proceedings, Calpine Corp. is asking for the authority to settle threatened and actual claims or lawsuits against the bankrupt energy giant if they are valued at $2 million or less.

In court documents filed late last week in the U.S. Bankruptcy Court for the Southern District of New York, Calpine said various third parties have asserted or will assert such claims through litigation, administrative action or arbitration.

Having the right to resolve those claims...
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