Enron To Reap $2.9B For Creditors

Law360, New York (May 26, 2006, 12:00 AM EDT) -- News of guilty verdicts for Enron’s former top executives Thursday obscured a positive development for those owed money by the bankrupt energy company: Enron will sell its foreign assets for a total of $2.9 billion, a development that the company has touted as a boon for creditors.

The $2.9 billion total represents a $2.1 billion cash payment, as well as $800 million in cash dividends Enron received from its foreign subsidiary earlier this year.

Enron's Prisma Energy International Inc. will be purchased by London-based Ashmore Energy...
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.