Enron Creditors Say Morgan Hinders Probe
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Enron Corp.’s creditors’ committee has asked a bankruptcy judge to force J.P. Morgan Chase & Co. to cooperate with the panel’s probe of a series of controversial oil and gas trades.
The transactions between Enron and Mahonia Ltd., a bank entity, have been scrutinized by congressional investigators and are the subject of a lawsuit in Manhattan federal court between J.P. Morgan and 11 insurers who guaranteed the trades with surety bonds.
The creditors’ committee said its efforts to investigate the Mahonia transactions have been hampered by the second-largest U.S. bank, which also is a member of the panel. The committee asked U.S. Bankruptcy Judge Arthur J. Gonzalez to order J.P. Morgan to cooperate.
J.P. Morgan did not immediately comment.
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