PracticeAuditAnother billion for Enron creditors

Another billion for Enron creditors

Since November 2004, the corporation has returned about $14.5bn (£7.3nb) to creditors

The Enron Creditors Recovery Corporation is dishing out another $1bn to
creditors and debt companies affiliated to the former energy giant.

The payment, made up of about $980m (£495m) in cash, stock to the value of
$37.4m (£19m), and sale of stock gains of $9m (£4.5m).

‘Returning funds to creditors is central to the mission of Enron Creditors
Recovery Corp., and the board of directors is proud of its achievements to date,
including today’s distribution,’ said the Recovery Corp’s president and
chairman, John Ray.

Since November 2004, the corporation has returned about $14.5bn (£7.3nb) to
creditors in biannual payments as well as interim ‘cash-up’ payments.

Further reading:

Ex-Enron CE appeals conviction

Citigroup in $1.6bn Enron payout

Related Articles

Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

5d Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1w Emma Smith, Managing Editor
PCAOB sanctions former Deloitte Turkey CEOs over altered documents

Audit PCAOB sanctions former Deloitte Turkey CEOs over altered documents

2w Alia Shoaib, Reporter
KPMG South Africa to review past audit work amid fresh scandal

Audit KPMG South Africa to review past audit work amid fresh scandal

1m Alia Shoaib, Reporter
FRC introduces £10m sanctions for Big Four firms

Audit FRC introduces £10m sanctions for Big Four firms

2m Alia Shoaib, Reporter
Ukraine’s PrivatBank files $3bn claim against PwC

Audit Ukraine’s PrivatBank files $3bn claim against PwC

2m Alia Shoaib, Reporter
Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

Audit Grant Thornton to exit FTSE 350 audit market, citing Big Four dominance

2m Alia Shoaib, Reporter
Big Four dominate FTSE 250 audit market in Q1 rankings

Audit Big Four dominate FTSE 250 audit market in Q1 rankings

3m Alia Shoaib, Reporter