Barclays settles Enron bankruptcy claim

Barclays settles Enron bankruptcy claim

Bank pays out to resolve lawsuit arising from bankruptcy, but continues to face class action

Barclays has agreed to pay $144m
(£76m) to extract itself from an Enron lawsuit.

The energy giant had been claiming that the bank owed it $144m, whilst
Barclays claimed Enron owed it $310m. A bankruptcy court will now decide how
much, if any of the $310m Barclays is owed,
the Guardian
reported.

The dispute arose as a result of outstanding transactions at the time of
Enron’s collapse.

There are separate class
action proceedings
from Enron shareholders in relation to Barclays too,
which have yet to be resolved.

Fastow
to detail banks’ involvement in Enron

PwC
partner to run finances at Barclays bank

Enron website

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