Compliance September 2, 2003

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.
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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.

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