Enron Granted More Time to Address Plan

[Socialist Christian]

http://story.news.yahoo.com/news?tmpl=story&cid=530&ncid=530&e=8&u=/ap/20031121/ap_on_bi_ge/enron_bankruptcy

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HOUSTON - Enron Corp. has another two weeks to address objections to its plan to emerge from one of the most complex and costly bankruptcies in history.




delayed 20 mins - disclaimer
Quote Data provided by Reuters



U.S. Bankruptcy Judge Arthur Gonzalez in New York was to consider preliminary approval of the Houston-based company's proposed reorganization plan Monday, after postponing a hearing this week.


On Friday, a second delay was granted at the request of Enron, its main creditors committee and Harrison Goldin, the court-appointed examiner overseeing creditors of the company's defunct trading unit, "to allow the parties to continue their efforts to resolve certain outstanding issues," according to a court filing. The hearing was rescheduled for Dec. 9.


Objections to Enron's proposal to pay most creditors about one-fifth of the approximate $66.4 billion they're owed have been mounting since the company filed its initial plan in July. Major creditors had approved the plan, and complaints came from mostly smaller creditors.