Enron bankruptcy costs expected to hit $1B

sharonstone

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Fri Nov-14-03 04:44 PM
Original message

Enron bankruptcy costs expected to hit $1B

HOUSTON (AP) — Failed energy giant Enron says its legal, accounting and other professional costs since declaring bankruptcy may top $1 billion by the end of 2006.
"I don't think there's anything close," Anthony Sabino, an energy and bankruptcy law expert at St. John's University in New York, told The Associated Press on Friday. "This is phenomenal. It is unprecedented."

Enron, whose filing led a wave of corporate scandals, has already exceeded $514 million in legal, professional and accounting fees, including billings from more than three dozen law firms and a handful of accounting and consulting firms since the company filed for reorganization on Dec. 2, 2001, according to the Texas Attorney General's office.

http://www.usatoday.com/money/industries/energy/2003-11-14-enron-costs_x.htm

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AndyTiedye

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Fri Nov-14-03 05:26 PM
Response to Original message

1. That's Not Counting the NINE BILLION They Looted from California

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