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Court Order Freezing Funds Challenged

IN BRIEF/ ENERGY

September 19, 2002|Bloomberg News

Investors in an Enron Corp. partnership improperly won a court order freezing $3.8 million belonging to former Enron executive Michael Kopper after he pleaded guilty to criminal charges last month, federal prosecutors said.

They asked a Delaware judge to lift a restraining order obtained by members of the LJM2 Co-Investment partnership, clearing the way for the government to take possession of the money.

Prosecutors had claimed the money as part of Kopper's plea agreement and that takes precedence, Assistant U.S. Atty. Paulette Nash said in court papers.

LJM2 was among the partnerships used to hide Enron debt, financial maneuvering that led to the company's bankruptcy filing in December.

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