Enron Workers Will Get a Peek At Financial Documents

February 21, 2002 (PLANSPONSOR.com) - A federal judge has decided to allow Enron workers access to financial documents that already have been provided to congressional investigators.

The documents include certain financial statements and information about Enron’s complex, off-balance-sheet deals, which disguised the company’s debt levels.

This information will be reviewed for use in about a dozen cases against Enron brought by company employees. These lawsuits, which have been consolidated in a Houston district court, allege pension-plan violations by Enron and its executives.

The judge said that providing those documents wouldn’t significantly interfere with the company’s reorganization efforts – since the information already has been gathered and sorted for other parties. The judge barred further discovery in the case until June 21 — when the workers’ litigation against Enron can continue.

A separate motion by Enron’s 401(k) holders to cash in on the company’s $85 million fiduciary insurance policy is expected to be heard by the court next week. Enron is hoping to get a $10 million advance on that policy to pay executives’ legal fees, according to a Reuters report.