Calpine requests that certain creditors provide information as required by federal law

By Reshmi Basu

New York, Oct. 15 - Calpine Corp. requested that certain creditors provide the company with information necessary for it to exit bankruptcy by the end of January, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the motion, Calpine wants those creditors, who own at least $725 million of claims or a minimum 10% of the equity in reorganized Calpine, to submit certain information required by the Federal Energy Regulatory Commission.

Under federal law, the commission must approve any transaction that would result in a change in control over a public utility's facilities. So far, the company has identified four creditors who may constitute those "acquiring entities."

In addition, Calpine said it is working with the creditors to compile the relevant material in order to meet a Nov. 1 deadline, the day the company will file its application with the commission.

Calpine wants the creditor information to be turned in by Oct. 26.

A hearing for approval of the motion is scheduled for Oct. 24.

Calpine, a San Jose, Calif., power company, filed for bankruptcy on Dec. 20, 2005. Its Chapter 11 case number is 05-60200.

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