Wednesday, March 26, 2008
Enron Creditors Recovery Corp. and Citigroup agreed to a $1.66 billion settlement of claims relating to the bank's role in the collapse of Enron. Citigroup is the last of eleven banks to settle creditors' claims, the others having settled for nearly $1.76 billion. The Citigroup trial was scheduled to begin next month. In January the bank asked the bankruptcy court to dismiss the charges, and just last week it sought to transfer the case to federal district court. WSJ, Citigroup to Pay $1.66 Billion To Settle Enron Litigation.