NewPower Offers $25.5M Payout To Enron

Law360, New York (November 7, 2006, 12:00 AM EST) -- After years of wrangling, NewPower Holdings Inc. has decided to fork over $25.5 million to Enron Corp. to settle all claims in the wake of the energy giant’s collapse.

On Monday, NewPower revealed the multi-million dollar settlement, which has already been approved by the U.S. Bankruptcy Court in Georgia.

The court approved the deal at the end of October, resolving claims between NewPower, Enron and various Enron units, according to a filing with the U.S. Securities and Exchange Commission.

Under the terms of the settlement, NewPower...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.