National Energy Group Reveals Plans To Liquidate

Law360, New York (November 13, 2007, 12:00 AM EST) -- One year after effectively winding down its operations, National Energy Group Inc., whose parent company is Icahn Enterprises, has decided to liquidate all of its remaining assets and dissolve the company.

On Monday, the Dallas-based energy company, which is a subsidiary of Icahn Enterprises LP, announced its intent to dissolve, pending shareholder approval of NEGI’s proposed plan of complete dissolution and liquidation. The dissolution is in the “best interest” of NEGI’s shareholders, the company said.

“The company’s board of directors determined, in its best business judgment...
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