Vinson & Elkins, Enron’s former law firm, has agreed to pay the company
$30m (?16m) to settle claims of contributing to its collapse by signing off on
Under the settlement, which must still be approved by a federal bankruptcy
court judge, Vinson & Elkins admits no liability and will waive claims
against the Enron estate for $3.9m (?2m) in service fees.
‘We are pleased with this settlement, and remain focused on continuing to
resolve remaining claims with major financial institutions directly involved in
Enron’s collapse,’ Enron president and chairman John J. Ray III said, in a
Vinson & Elkins earned up to $40m (?21m) a year acting as Enron’s major
outside legal counsel, signed off on many of deals which allowed debt to be
shifted off balance sheets, WebCPA reported.
Enron has also reached settlements totaling about $800m (?430m) with six
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The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements