< National Championship redux | Main | Top ten lies of entreprenuers >
January 09, 2006
Peter Lattman on the Calpine chapter 11 case
After only a week, Peter Lattman's new WSJ Law Blog is proving well worth reading, as reflected by his posts here and here on the politics involved in the initial meetings to select the creditors' committee and its counsel in the Calpine Corp. chapter 11 case, which include the following observations:
You’d think that a get-together of people owed money by Calpine would be a solemn affair, but it felt more Kiwanis Club than Creditors Club. That’s because most of the people in the room weren’t creditors; they were the lawyers, bankers, and consultants who make their livings off the carcasses of bankrupt companies like Calpine.And this is one tight-knit group. After . . . 10 minutes of bland introductory remarks, they adjourned the meeting for two hours to select a committee. At that point a party broke out. The various advisors lingered, glad-handing and networking their way through the room. We even ran into a few hedge fund managers working the crowd, trying to handicap their investments.
Posted by Tom at January 9, 2006 05:40 AM
Trackback Pings
TrackBack URL for this entry:
http://mtcgi.kir.com/mt-trackbk.cgi/2771
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)