After the scandal, the books, the movie — finally, it’s judgment day in a Houston courtroom for Enron Corp.’s former chairman, Kenneth Lay, and ex-CEO, Jeffrey Skilling. Amid boatloads of details about related-party and off-balance sheet transactions, an old question is likely to resurface: “Where were the lawyers?”
The proceedings probably won’t provide answers. Ten former in-house attorneys are listed as potential witnesses, but none played a major role in the scandal, and no Enron lawyer has been indicted. Instead, the trial will likely be dominated by questions about alleged accounting irregularities and insider trading. A host of interesting questions about the in-house legal team will likely go unasked and unanswered.
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