Enron Gets Extension on Bankruptcy Plan

NEW YORK -- A federal judge Monday gave bankrupt Enron Corp. until July 11 to file its reorganization plan, granting the former energy trader's request for an 11-day extension, The Associated Press reported.

The plan had been due Monday. But last week Enron asked for more time, saying it had reached a tentative agreement with creditors on the plan but still needed to work out details.

U.S. Bankruptcy Judge Arthur J. Gonzalez said Monday he was granting more time because "expensive, protracted litigation" would result if Enron filed the plan and then needed to make minor changes.

He also said he was impressed that Enron and its creditors had filed the request for the delay together, reflecting "a consensus that has not been evident previously."

-- NYSSCPA.org News Staff

Posted on 06/30/03