Enron Reorganization Plan Due June 30

HOUSTON -- Enron Corp. has until June 30 to file a plan of reorganization after a federal judge gave the company its fourth extension since entering bankruptcy nearly 1 1/2 years ago, The Associated Press reported.

The Houston-based company's bankruptcy involves more than 20,000 creditors seeking more than $200 billion and has generated more than $383 million in legal fees, making it among the most expensive in history.

"The time has come for all parties willing to resolve their disputes to do so now," said U.S. Bankruptcy Judge Arthur Gonzalez of New York, adding that he won't grant further extensions.

Enron's lawyers said they fully intend to meet the June 30 deadline.

-- NYSSCPA.org News

Posted on 05/15/03