Andersen Worldwide coughs up $60m

Andersen Worldwide coughs up $60m

Andersen Worldwide, the umbrella group of Andersen's global network, has agreed to pay $60m (£39m) to Enron investors and creditors.

Link: Read more on Andersen here

Enron investors will get $40m, while creditors will receive the remaining $20m in the first settlement agreed by the firm since it was convicted of obstruction of justice in relation to the collapse of the US energy giant.

It is a substantially smaller amount than the $300m the firm offered to pay up in April when there was still hope that it could survive the criminal charges.

The $60m payment is expected to be just the first of many such settlements, according to reports, and does not cover Andersen’s US arm.

Last year Andersen’s global business amassed revenues of $9bn.

Share

Subscribe to get your daily business insights

Resources & Whitepapers

The importance of UX in accounts payable: Often overlooked, always essential
AP

The importance of UX in accounts payable: Often overlooked, always essentia...

1m Kloo

The importance of UX in accounts payable: Often ov...

Embracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...

View article
The power of customisation in accounting systems
Accounting Software

The power of customisation in accounting systems

2m Kloo

The power of customisation in accounting systems

Organisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...

View article
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...

View resource
8 Key metrics to measure to optimise accounts payable efficiency
AP

8 Key metrics to measure to optimise accounts payable efficiency

2m Kloo

8 Key metrics to measure to optimise accounts paya...

Discover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...

View article