Enron shareholders close to multi-billion dollar payout

Enron shareholders are just months away from receiving their piece of a $7.2bn (£4.1bn) settlement, after a judge approved a distribution plan.

US district judge Melinda Harmon approved distribution to eligible shareholders, who could potentially take their share by the end of the year, reported the Houston Chronicle.

A spokesman for the law firm handling the litigation said the approval was a 'big step' towards distribution.

The payout will be the highest ever in US securities litigation, beating WorldCom litigation payout of $6.1bn.

The bulk of the payouts were funded by various financial institutions, former auditors Andersen, and Enron directors.

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Read the Houston Chronicle's story