LAWSUITS NEWS & LEGAL INFORMATION
Lehman Commercial Paper Inc. et al.
Houston, TX: (Jul-18-07) Enron Creditors Recovery Corp., formerly known as Enron Corp., brought charges against Lehman Commercial Paper Inc., Northern Trust Co., Allstate Life Insurance Co. and the Prudential Insurance Co. of America, over the companies' receipt of payments on short-term debt incurred by the once-mighty energy giant.
In a settlement reached, the companies agreed to pay Enron $149 million to resolve claims to recover payments made by the company on so-called "commercial paper," or short-term debt, shortly before its bankruptcy filing in 2001. Allocation of the settlement payment made by individual companies was not disclosed. The settlement is part of Enron's plan of liquidating its remaining operations and distributing its assets to creditors. The company filed lawsuits in November 2003 to recover commercial paper payments from some 180 recipients so that the funds can be shared by creditors. [FORBES: ENRON DEBT]
Published on Jul-19-07
In a settlement reached, the companies agreed to pay Enron $149 million to resolve claims to recover payments made by the company on so-called "commercial paper," or short-term debt, shortly before its bankruptcy filing in 2001. Allocation of the settlement payment made by individual companies was not disclosed. The settlement is part of Enron's plan of liquidating its remaining operations and distributing its assets to creditors. The company filed lawsuits in November 2003 to recover commercial paper payments from some 180 recipients so that the funds can be shared by creditors. [FORBES: ENRON DEBT]
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