While three bankers from Britain's NatWest sit before a judge in a Houston court room, Barclays PLC was cleared in its involvement in the Enron scandal.
In a statement, the bank said the U.S. District Court of Texas Houston Division has dismissed claims against it in a class action civil suit against several banks accused of failing to prevent the energy company's collapse. Enron filed for bankruptcy in December 2001 amid questions about its accounting and financial state, triggering a flurry of lawsuits both by the company and its shareholders against banks across the globe. Some of those banks — namely Citigroup, J.P. Morgan Chase and Lehman Brothers — have settled out of court. In related news, the NatWest Three were refused the right to return to Britain until after their trial. Of course, the NetWest Three are accussed of criminal charges not directly related to the civil case against Barclays. Their extradition became a hot topic in Britain. Finally, Ken Lay was reportedly seen at La Guardia Airport this week. —Matthew Wurtzel
See story about Barclays from The Times of London
See story about NatWest Three from the Financial Times
See item about Ken Lay at Dealbreaker
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