BusinessBusiness RecoveryLondon Electricity demands £200m Enron payout

London Electricity demands £200m Enron payout

UK power company London Electricity believes it is owed £200m by Enron Europe, and has filed a claim with its adminstrator, PricewaterhouseCoopers, for this amount.

According to reports, the claim relates to a gas contract signed when London Electricity bought Enron’s gas-fired power station in Lincolnshire two years ago.

As part of the deal Enron agreed to supply the power station with gas for 14 years – but this was terminated when Enron Europe went into administration last November.

In February, PwC confirmed that liabilities at Enron Europe, the holding company for the European companies, were likely to run into the ‘billions of pounds’.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor