BusinessBusiness RecoveryJP Morgan Chase reaches $1bn Enron settlement

JP Morgan Chase reaches $1bn Enron settlement

Another banking giant settles with Enron

JP Morgan Chase has agreed to pay $1bn (£550m) to settle claims brought
against it by Enron, after the collapsed oil giant claimed that a number of
banks had helped its former management team commit fraud.

The bank will pay $350m to Enron’s estate and will waive claims that Enron
owes money from unpaid loans.

Citigroup, the world’s largest banking group, has previously agreed to pay
$2bn to investors who lost out as a result of Enron’s collapse.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

4m Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

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

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor