Enron CEO Cleared to Seek Past Money

HOUSTON -- Enron Corp.'s interim chief executive, Stephen Cooper, has been authorized to lead the bankrupt company's efforts to seek money from banks and others involved in its past business dealings, The Associated Press reported.

U.S. Bankruptcy Judge Arthur Gonzalez in New York ruled Thursday to expand the scope of Cooper's duties. Cooper now will also help Enron and its creditors navigate potential lawsuits and possible settlements of claims against various business partners, including banks that funded deals and gave financial advice.

J.P. Morgan Chase & Co. and Citigroup Inc. are among the financial institutions that could face lawsuits from Enron on claims that they contributed to the energy company's implosion in December 2001. Those companies also are major Enron creditors.

Gonzalez said in his order that such tasks are "necessary and would be in the best interests of the debtors, their estates and creditors."

-- NYSSCPA.org News Staff

Posted on 06/02/03