September 25, 2003

The Enron Watch VII

The Wall Street Journal (subscrip. required) reports that Enron has filed a complaint against six of its former bankers in bankruptcy court. According to the article, "the complaint alleges that the banks 'bear substantial responsibility' for Enron's downfall because they participated 'with a small group of senior officers and managers of Enron in a mulityear scheme to manipulate and misstate Enron's financial difficulties.'"

The filing comes just days before the company is scheduled to participate in court-ordered mediation for the suits brought by its shareholders and financial institutions and appears designed to spur a more favorable settlement.

Posted by Lyle Roberts at September 25, 2003 9:26 AM | TrackBack
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