Enron Unit Brokers Settlement With Luzenac

Law360, New York (May 16, 2008, 12:00 AM EDT) -- Marking the latest development in Enron Corp.'s bankruptcy case, a subsidiary of the now-defunct energy giant has reached a settlement with Luzenac America Inc. over the unit's defaulted contracts with the mining company.

Judge Arthur Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York on Thursday granted a bid to approve the deal between Enron Power Marketing Inc. and Luzenac, saying it was “fair and reasonable.”

The settlement lays to rest a dispute over EPMI's defaults under certain contracts it had entered...
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