Investing
Bear Stearns Gets Off Quite Light In Latest Enron Settlement (BSC, LEH, UBS, CSR
Published:
Reuters is reporting that Bear Stearns (NYSE:BSC) is paying $1 Million as a settlement to Enron creditors to settle a lawsuit related to equity transactions. The agreement requires bankruptcy court approval.
In exchange for the $1 million, Enron’s creditors and Bear Stearns will withdraw other claims against each other. This article also notes that Credit Suisse (NYSE:CSR), Lehman Brothers (NYSE:LEH), and UBS (NYSE:UBS) have all previously entered into different settlements with creditors.
The good news here is that will not even be considered a road bump nor even a noticed line-item in the financials at Bear Stearns. The creditors probably spent more lawyer/hour fees than this to get that settlement. At least as as far as it pertains the troubled broker, it looks like on this front that Bear won’t have to pay for sins of the farther and farther past and can just worry about its current loan and derivative exposure.
Jon C. Ogg
October 29, 2007
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
