-Caveat Lector- Euphorian spotted this on the Guardian Unlimited site and thought you should see it.
To see this story with its related links on the Guardian Unlimited site, go to http://www.guardian.co.uk Barclays tangled in Enron web David Teather in New York Monday September 23 2002 The Guardian Barclays Bank could face claims for redress from Enron creditors because of its alleged role in the bankrupt energy firm's efforts to disguise billions of dollars in debt. A report prepared by a court-appointed examiner said a $168m (£100m) transaction that Barclays helped to arrange for Enron in the weeks before the energy group went under was, in effect, a loan so creditors who were still owed cash when Enron imploded in December might be able to make a claim for recovery of the sum. The court appointee, US lawyer Neal Batson, said Enron sold sulphur dioxide credits to a Guernsey-registered entity, Colonnade, in September and October 2001 - the credits are tradeable permits to emit pollutants in the US. Mr Batson describes Colonnade as a Barclays affiliate. The credits were sold on to Barclays' metals trading operation. The deal was one of six outlined in an interim report on Enron's web of special-purpose entities said to have been used to mask the true state of its balance sheet. Mr Batson said that between 1997 and 2001 Enron raised $1.4bn through loans disguised as asset sales to the entities. The transactions allegedly inflated Enron's reported revenues, profits and cash flow. Many of the world's biggest financial institutions have been severely criticised by investigators for their involvement with Enron including Citigroup, JP Morgan Chase and Merrill Lynch. Mr Batson stressed that he had arrived at no conclusions. If he determines that former Enron executives, accountants, law firms and banks were responsible for the fraud, they could also be liable for billions of dollars in lawsuits. Barclays yesterday said the bank remained confident that any deals with Enron were carried out properly and that due diligence had been done. Copyright Guardian Newspapers Limited <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http:[EMAIL PROTECTED]/ <A HREF="http:[EMAIL PROTECTED]/";>ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
