Citigroup to Pay $1.66 Billion to Settle Enron Creditors’ Claims

March 26, 2008

Citigroup has agreed to pay Enron Corp creditors $1.66 billion as the final part of a settlement of a lawsuit over banks’ responsibility in the energy trading firm’s downfall, a group representing creditors said Wednesday.

The group said that in addition to the payment, Citi has agreed to waive and release additional claims.

(Reporting by Michael Erman; editing by John Wallace)

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