Calpine amends bankruptcy plan
From Times Wire Services
Power producer Calpine Corp. said it filed an amended reorganization plan to emerge from bankruptcy protection that aims “to provide an equitable return to all stakeholders while providing for the long-term viability of the company.”
The plan was filed at the U.S. Bankruptcy Court for the Southern District of New York.
The company said it “remains on track” to have the plan confirmed in the fourth quarter.
The company projected that existing shareholders would receive $2.05 a share of common stock, up from $1.80 a share under the original plan.
