U.S. Bankruptcy Judge Burton R. Lifland in a Manhattan federal court Thursday acted on Calpine Corp.’s initial motions in the company’s multi-billion-dollar Chapter 11 bankruptcy filing earlier in the week, granting the company’s immediate use of $500 million of some $2 billion debtor-in-possession (DIP) financing and authorizing the company to continue paying employee wages, salaries, and benefits during the court-supervised restructuring. In addition, Judge Lifland set a hearing Jan. 5 on Calpine’s motion to suspend some of its below-market power contracts, two of which are in California, totaling 1,200 MW.
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President Bush announced his intention to nominate Kathleen Burton Clarke to be director of the Bureau of Land Management at the Department of Interior. She has served as the executive director of the Utah Department of Natural Resources since 1998, and she was deputy director from 1993 to 1998. Clarke served in the office of Rep. James V. Hansen from 1987 to 1993, first as director of constituent services and then as executive director. A Utah native, she is a graduate of Utah State University.
August 29, 2001