Calpine seeks extension of Rockgen, Long Island Power, Eastman Chemical lease assumption deadlines

By Caroline Salls

Pittsburgh, Nov. 1 - Calpine Corp. requested court approval to extend its deadlines to assume or reject its Rockgen Energy, LLC, Long Island Power Authority and Eastman Chemical Co. property leases, according to Wednesday filings with the U.S. Bankruptcy Court for the Southern District of New York.

Under the Rockgen stipulation, the deadline for the company to assume or reject the 12 related lease agreements will be extended to the earlier of March 18 or upon confirmation of Calpine's plan of reorganization from Nov. 16.

Under the Long Island Power agreement, the deadline for assumption or rejection of the leases will be extended to Jan. 31 from Nov. 20.

Under the Eastman Chemical agreement, the deadline for assumption or rejection of the leases will be extended to Jan. 31 from Nov. 30.

A hearing scheduled for Nov. 15.

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

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