Enron Settles $44M In Commercial Paper Claims

Law360, New York (December 8, 2008, 12:00 AM EST) -- The Enron Creditors Recovery Corp. has asked a federal bankruptcy judge to approve settlements totaling more than $44 million with around 70 entities linked to commercial paper transactions the disgraced energy giant engaged in before its 2001 collapse.

The proposed settlement, filed Friday in U.S. Bankruptcy Court for the Southern District of New York, calls for the settlement parties to transfer a total of $44,606,687 to an escrow agent, who will then distribute more than $35 million of those funds to Enron.

The proposed settlement includes...
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