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Asian Life
Thursday, April 24, 2003
THE BATTALiIihe BAIT
Enron requests more timNig*
for reorganization again
Silk Mangos is an Asian American theatre group from
UT Austin that provides an opportunity to entertain
and inform students about Asian American issues
through all aspects of the performing arts.
a
The BIG Show
HOUSTON (AP) — For a fourth time, lawyers
for fallen energy trading giant Enron Corp. have
requested more time to file a reorganization plan
before a federal bankruptcy judge who has indi
cated that his patience may be wearing thin.
The Houston-based company argued on
Tuesday that it needs two more months — until
June 30 — to file the plan because
executives company have decided to
retain major pipelines and several
other energy assets instead of sell
ing them, at least immediately.
“We feel it’s going to be in
everybody’s best interests to put
forward a plan of reorganization
that meets with everyone’s goals,”
Enron spokesman Mark Palmer told
the Houston Chronicle in
Wednesday’s editions. “That allows
us to move through the bankruptcy
faster and get the plan confirmed
faster and eventually make distribu
tions to creditors faster.”
signals that no foreseeable end is yet in sigk
After Enron’s third extension hearing
February, Judge Arthur Gonzalez indicated
patience has limits. Any further reprieves,
judge told Enron’s lawyers, may signal thatt
is no urgency to negotiations between thecois
ny and its major creditor groups.
Enron, which has at
Sadly for
creditors, today's
pleading signals that
noforseeable end is
yet in sight.
— Greg Abbott
Texas Attorney General
Friday, April 25th/
8:00 - 9:30put,
MSC 201
Creditors in what was once the largest corpo
rate bankruptcy in U.S. history are also growing
impatient of the repeated extension requests in a
case where legal fees have exceeded $360 million.
“We remain concerned that Enron has asked
for yet two more months without any commitment
or indication that they will file a reorganization
plan at the end of that period,” said Texas Attorney
General Greg Abbott, representing the state as a
creditor. “Sadly for creditors, today’s pleading
LAGOS, r
lition dem;
Resident O
Jiown and ar
faced contentious groups oy I ions, which
tors as it has nioved throygl )Ut were seer
bankruptcy case, is seeking it
approval of its reorganization
before filing it with the
Lawyers for Enron are in
process of prosecuting or serl
more than five dozen la«'M ote was * aI1
filed against those that
executives believe contrite;
the business’ downfall inj
Also, the company is
through 23,000 claims forj
billion and selling otherasa
Enron attorneys note
Obasanjo’
|vas clearly 1
massive rev
tlections. Ob
documents that other bankruptcy cases with a
tion of the claims and uncertainties have taken*
times “three to five to more years” to be resok
However, experts say Enron should beat*
confirm a reorganization plan without wain;:
resolve all the claims. The company caa
claims in different groups. In cases whereff raudulent in
tors’ and other claims have yet to be
leeding the d
1 believe
nany Nigeri;
:ant step forv
ions in this c
laid. Obasanj
:d the vote v
ill, free am
ait.”
Internatioi
ocal electioi
have said \
can ask Gonzalez to estimate their value fe Nigeria, yet
purpose of finalizing a reorganization
FREE admission
Former officer cleared of wrongdoi
ace.tamu.edu
h
Persons with disabilities please
call (979) 845-1515 to inform us
of your special needs.
FORT WORTH, Texas (AP)
— A former Haltom City police
officer who resigned amid alle
gations that he gave alcohol to
teenagers has continued work
ing in law enforcement after
another agency cleared him of
wrongdoing.
Lake Worth police investigat
ed officer Bud Murphy before
hiring him last fall and deter
mined that he hadn’t broken the
law, Lt. Brett McGuire said.
Earlier this month, Murphy left
Lake Worth to take a sergeant’s
position in Lakeside.
Haltom City’s probe conclud
ed that Murphy made alcohol
available to the teens, but the
Police Department had not decid
ed on a punishment when he
resigned in September, said Sgt.
Kyle Barton, an internal affairs
investigator. Murphy had been
Haltom City’s rookie officer of
the year and had received several
commendations. Barton said.
Haltom City police were
already investigating allegations
that J.R. Ewing, another former
police officer, had sex with
Explorersiat his, l)Ofne,,.
At the same time, HD
City was involved in
alleging sexual harassmeis
the city jail.
Murphy, 29, said Tins
that some teens on a
trip with his wife, a fas
friend and her children
taken two alcoholic bew
from his cooler.
He said he resigned
Haltom City rather than fiji!
allegations through the
service process.
“It was hot over there
. time,” he saidi 'jud:
n the south
vas too eai
111
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vhether resu
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ised. The
eports of I
duffing and ii
vere stolen o
“It wasn’t
vay from an
aid Ross He
e South
international.
Obasanjo
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tared to 32
ival, Muhar
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elated violen
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