Credit Suisse to pay Enron 61.5 mln usd cash to settle equity transactions case |
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Published
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Fri, 01 Jun 2007 15:40
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LONDON (Thomson Financial) - Enron Creditors Recovery Corp today said it has reached an agreement with Credit Suisse that will see the latter pay it 61.5 mln usd cash to settle legal proceedings over equity transactions, but at the same time deny any liability.At the time of its bankrupcy case, Enron filed the proceeding against Credit Suisse. The agreement is with Credit Suisse Intl and Credit Suisse Securities (USA) LLC, and resolves all bankrupcy proceedings between Enron and Credit Suisse, Enron said.The settlement has yet to be approved by the US Bankrupcy Court.Enron's chairman, John Ray, said: 'We are pleased with this settlement reached with Credit Suisse and look forward to successfully resolving the remaining equity transactions cases.'Enron said equity transactions cases remain pending against UBS AG and Bear, Stearns.tf.TFN-Europe_newsdesk@thomson.comamCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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