Enron Beats Appeal Over Bank's $50M Ch. 11 Claim

Law360, New York (April 5, 2011, 3:01 PM EDT) -- National City Bank, an indenture and property trustee in Enron Corp.’s bankruptcy proceedings in New York, failed Thursday in an appeal to use its most favored nation status in the case to extract $50 million in claims.

Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York backed the bankruptcy court’s March 2009 determination that payments from a splinter group of Enron entities in a separate reorganization case did not trigger the most favored nation clause NCB entered with the...
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