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Judge Allows Bankrupt Calpine To Settle Some Claims

Law360 (August 16, 2006, 12:00 AM EDT) -- A judge has given bankrupt Calpine Corp. the authority to settle threatened and actual claims or lawsuits against the bankrupt energy giant if they are valued at $2 million or less.

Judge Burton R. Lifland set up the rules for such settlements Tuesday in an order in the U.S. Bankruptcy Court for the Southern District of New York.

Calpine, which is attempting to streamline the claims approval process in its bankruptcy proceedings, will be allowed to settle any amount that is $250,000 or less without the...
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