BusinessCompany NewsEnron lawyers charge £343m

Enron lawyers charge £343m

Lawyers acting for Enron investors seek possibly the largest bill in legal history, if federal court gives approval

Enron investors who are trying to recoup losses from the collapsed energy
giant are facing a massive law bill of £340m.

The lawyers have asked a federal court in Houston to approve fees amounting
to £343m – of about 9.5% of money recovered so far.

If the bill is approved, it could be the largest legal pay day in history,
The
Times
reported.

Law firm Coughlin Stoia Geller Rudman & Robbins say they have assisted
claimants in recovering nearly £4bn from financial institutions which, according
to investors, played a role in the accounting fraud that led to Enron’s final
demise in 2001.

Further reading:

Law
firm seeks nearly $700 mln for Enron pacts

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