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Calpine enters chapter 11
21 December 2005
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Calpine Corporation has filed for chapter 11 bankruptcy protection, after failing to come up with a way of meeting the servicing obligations attached to $17 billion in debt. It filed at the United States Bankruptcy Court for the Southern District of New York on 20 December. It has lined up $2 billion in debtor-in-possession financing from Credit Suisse First Boston and Deutsche Bank. This is secured upon its operating subsidiaries (an annex listing these runs to six single spaced pages), and its interests in 92 operational...
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