Enron Creditors Get 53 Percent Payout, Aided by Lawsuit Accords

Defunct Enron Corp.’s creditors have received $21.8 billion in cash and stock so far, with money from lawsuits and settlements helping to give general unsecured creditors a payback three times higher than the estate had projected, a report shows.

Once the biggest U.S. energy trader, Houston-based Enron filed for bankruptcy in 2001 and won approval of a liquidation plan in 2004. The 53 percent payback to general unsecured creditors was triple the 17 percent recovery estimated in the plan, according to a report by Enron Creditors Recovery Corp., set up to liquidate the company’s remaining operations and assets.