Enron Creditors To Receive $27M

Law360, New York (October 17, 2008, 12:00 AM EDT) -- A federal judge has approved a stipulation agreement that will benefit creditors of defunct energy giant Enron Corp. to the tune of $27 million.

Judge Arthur J. Gonzalez approved the agreement among the Enron Creditors Recovery Corp., Gulf Co. Ltd. and the Travelers Indemnity Co. on Thursday in the U.S. Bankruptcy Court for the Southern District of New York.

According to ECRC's motion, the stipulation agreement would require ECRC and Gulf to repay $8.9 million to Travelers, which provided insurance coverage to Enron. Travelers and its...
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