PracticeAccounting FirmsAndersen 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.

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