BusinessCompany NewsEnron seeks $53m from former employees

Enron seeks $53m from former employees

Bankrupt energy giant Enron will attempt to recover $53m (£33m) it made in 'preferential payments' to former and current employees before it went bankrupt.

Link: UK plc still facing Enron threat

An employee’s committee from the scandal-hit company is intending to recoup money given out to 114 employees in the days leading up to the declaration of bankruptcy as under US law the company cannot make payments to one creditor in preference to another in the 90 days before bankruptcy.

Staff who won pay outs had applied to make withdrawals from their deferred compensation accounts in the month before the December 2001 bankruptcy declaration, according to The Times.

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