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