BusinessBusiness RecoveryEnron Europe faces $1bn in liabilities

Enron Europe faces $1bn in liabilities

PricewaterhouseCoopers has estimated that gross liabilities of the energy trading arm of Enron's London-based European operations will be in excess of $1bn (£702m).

PwC, administrators to Enron Europe, confirmed it hoped to recover more than £100m from profitable contracts. A creditors’ meeting is scheduled to take place early next month when more details will emerge.

The US energy giant filed for Chapter 11 bankruptcy protection on 2 December 2001. PwC has already raised more than $143m (£100m) from sales of Enron’s European businesses.

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