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Enron To Reap $2.9B For Creditors

Law360 (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...
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