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.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies