Tuesday, May 15, 2007

UPDATE 1-Calpine reaches settlement with Canadian units

(Reuters) - The proposed settlement will resolve more than $250 million of intercompany claims in the Canadian insolvency proceedings, and about $1.1 billion of claims in Calpine's bankruptcy case in the United States, Calpine said.

"This settlement is another major step forward in our restructuring efforts," said Chief Executive Robert May in a statement.


Read more at Reuters.com Bonds News

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