Latest Debtor-in-possession financing Stories
By Leonard Anderson and Michael Erman SAN FRANCISCO/NEW YORK (Reuters) - Embattled power producer Calpine Corp. filed for bankruptcy late on Tuesday, weighed down by $17 billion in debt and court battles with creditors over how to use its cash. Calpine, squeezed by a credit crunch and a weak merchant power market that resulted from the collapse of Enron and the California energy crisis in 2000-2001, said it filed petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code...
NEW YORK (Reuters) - Delta Air Lines Inc., which has struggled to avoid bankruptcy for several months, on Wednesday filed for Chapter 11 protection, brought down by high oil prices and steep competition from low-cost carriers. The No. 3 U.S. airline, which earlier this year said it did not have enough cash to meet its liquidity needs in 2005, filed for Chapter 11 protection in the U.S. bankruptcy court in the Southern District of New York. It said it had obtained $1.7 billion in...
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