What is the MegaClaims litigation?
As part of its mission to liquidate remaining operations and distribute assets to its creditors, ECRC filed its “MegaClaims” complaints against 11 major banks that it contends contributed to the collapse of Enron. The MegaClaims complaint specifically alleges, consistent with the findings of the court-appointed Examiner, the involvement of those banks in the fraud, breaches of fiduciary duties, and civil conspiracy that created losses of more than $18 billion. This litigation seeks to recover billions of dollars from the financial institutions that ECRC believes engaged in such conduct and to return the money to Enron’s innocent creditors. For more information about the MegaClaims litigation, please click here .
Related Questions
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- What other banks have been involved in the MegaClaims litigation?
