Paul, Weiss is widely recognized as having one of the nation’s preeminent securities litigation and regulatory practices. For two decades, our lawyers have guided global corporations and financial institutions through a series of “bet-the-company” securities-related crises, consistently reducing or eliminating their most damaging claims and negotiating favorable resolutions.
Calpine District Court Decision Disallows Bondholder Claims for Lost Conversion Rights
January 2, 2008 Full PDF
In a recent appeal arising from a claims objection proceeding in the Calpine chapter 11 case, the United States District Court for the Southern District of New York affirmed the Bankruptcy Court's decision disallowing certain bondholders' claims for compensation for the alleged loss of their right to convert their notes into common stock of Calpine Corporation ("Calpine").