[deport]

Additional articles.......

Dec. 27, 2001, 11:36PM

Enron filing fouls severance deals

By L.M. SIXEL

Angelique Chappell is finding that it's hell to get caught up in a bankruptcy.

Chappell worked for Enron Corp. until she lost her job in mid-November. She had expected $12,599 in severance pay in mid-December, but before she got a check, Enron filed for bankruptcy.

Chappell is now stuck in limbo. While most of the 4,500 Enron employees who lost their jobs earlier this month received $4,500 severance checks, employees like Chappell who lost their jobs before Enron filed for bankruptcy ended up with nothing.

And now they're waiting in line behind other creditors. Chappell figures it will take six to 12 months to get anything resolved and doesn't know what she'll end up with.

Her severance agreement with Enron states that she can't file any claims against the company, so she's scared to death to file for unemployment compensation. But as her bills pile up, she desperately needs the money that unemployment insurance would provide.

Rest of the article

---

Dec. 28, 2001, 12:29AM

As banks seek cash, Enron's financing deadline extended

Dow Jones News Service

NEW YORK -- A deadline to finalize a $1.5 billion financing package to help get Enron Corp. back on its feet has been pushed back to Jan. 30.

The financing, known as debtor in possession, or DIP, is critical for Enron to continue operating now that the energy trader has filed for Chapter 11 protection in the U.S. Bankruptcy Court's in New York's southern district.

Enron's lead banks, J.P. Morgan Chase & Co. and Citigroup, first agreed to arrange the loan for Enron on Dec. 3, a day after the company filed for bankruptcy. But the two banks have since been laboring to find other financial firms willing to help them foot the bill. So far, a $250 million installment has been made available to Enron. Final approval of the financing package was originally scheduled for Jan. 7.

The DIP is contingent on a number of conditions, including its full syndication; the filing for bankruptcy of one of Enron's prized assets, the Transwestern Pipeline; and the approval by the bankruptcy court and the lead lenders of a new business plan.

Article

---

[cake_crumb]

For some reason, the phrase "funneling campaign dollars to Democratic lawmakers," combined with a company who's finances are so fuzzy that it'll take auditors years to figure them out - if they ever do at all - doesn't surprise me.

[HighWheeler]

Uh Oh. You better check this out, MurryMom. Enron isn't the puppet of Republicans. Instead it looks like the Democrats have lost another cash cow.

[VOA]

When you're in really deep doo-doo, trust an influential Democrat to take a bribe.
(Not saying Repbulicans don't do the same...but I think the chances of a successful bribe
are a bit lower.)

[TankerKC]

President Bush was a frequent recipient of Enron's largesse.

Hmmmm. Interesting that they would close an article about Demoncrats getting campaign contributions just before bankruptcy with a note about President Bush (R). ;)

[spald]

Are you trying to imply that somehow all these articles are related??

< /sarcasm>

[ken5050]

The banks are playing several ends against the middle...first they're large secured AND unsecured creditors, though the quality of the assets may be less than originally thought..Second, they're also porviding the Debtor in possion financing..Third, they want to form their own energy trading operations to replecate Enron.....In summary...Enron is dead....will never see the light of day again..it will be converted into a liquidation, and the banks will pick up whatever assets are left....

[mewzilla]

Enron has been kissing Democrat bootie for a while now. One of its execs even attended a Clinton coffee. Those guys get around.