Enron shareholders are just months away from receiving their piece of a
$7.2bn (£4.1bn) settlement, after a judge approved a distribution plan.
US district judge Melinda Harmon approved distribution to eligible
shareholders, who could potentially take their share by the end of the year,
A spokesman for the law firm handling the litigation said the approval was a
‘big step’ towards distribution.
The payout will be the highest ever in US securities litigation, beating
WorldCom litigation payout of $6.1bn.
The bulk of the payouts were funded by various financial institutions, former
auditors Andersen, and Enron directors.
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Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC