Payments to deceased Enron exec to be returned

Payments to deceased Enron exec to be returned

Judge rules to return compensation paid to Cliff Baxter

The $1.3m (£687,000) in compensation paid to John Clifford Baxter, the former
Enron vice chairman who committed suicide soon after the company collapsed in
2001, will be returned to Enron for distribution to other creditors.

Judge Arthur Gonzalez of the US Bankruptcy Court in Manhattan ruled that the
payments to Baxter improperly favoured him over other Enron creditors.

Baxter resigned from Enron in 2001, just months before allegations of
accounting fraud brought the company to its knees.

In January 2002, Baxter was found dead in the driver’s seat of a parked car
in a Houston suburb. He had a gunshot wound to his head.

At the time, Enron whistleblower, Sherron Watkins, said: ‘Cliff Baxter
complained mightily to (then-CEO Jeffrey) Skilling and all who would listen
about the inappropriateness of our transactions with LJM.’

Related Articles

M&S business rate liabilities based on £570m rateable value

Company News M&S business rate liabilities based on £570m rateable value

6m Emma Smith, Managing Editor
BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

10m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

1y Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

1y Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

1y Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

1y Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

1y Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

1y Emma Smith, Managing Editor