It’s been a week of courthouse developments for Houston’s Enron Corp., which went bankrupt in December after its stock price slipped below $1 per share. In New York, where Enron filed its Chapter 11, U.S. Bankruptcy Judge Arthur J. Gonzalez is deciding if he will transfer the massive bankruptcy filing to Houston. In Houston, U.S. District Judge Lee H. Rosenthal issued an order on Jan. 9 opening the door for plaintiffs lawyers to freeze $1.1 billion they allege 29 current and former officers and directors of Enron reaped in insider trading proceeds from Oct. 19, 1998, through Nov. 27, 2001. And Enron and its would-be suitor, Dynegy Inc., settled a 1-month-old state court suit in Houston filed over ownership of a natural gas pipeline.
In Washington, D.C., the U.S. Justice Department has set up a task force to investigate possible criminal charges against Enron. The team will include prosecutors from Houston, New York and San Francisco.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
