The Enron Scandal - Unmoderated Message Board

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Non-Tech : The Enron Scandal - Unmoderated

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To: stockman_scott who wrote (1888)	3/8/2002 5:57:36 PM
From: Glenn Petersen	Read Replies (4) of 3602

SEC objects to interim Enron CEO msnbc.com Commission cites conflicts of interests, salary concerns BREAKING NEWS NEW YORK, March 8 — The Securities and Exchange Commission objected Friday to Enron Corp.’s hiring of Steve Cooper as interim chief executive, citing conflicts of interest and questions about Cooper’s $1.3 million salary. IN PAPERS FILED with the U.S. Bankruptcy Court of Southern New York, the SEC said it “believes that many of the terms of Enron’s agreement with Cooper are overreaching and are inappropriate in the context of a Chapter 11 bankruptcy case.” Among its objections, the SEC said Cooper’s contract with Enron “should make clear that Cooper and his firm will be recused,” from any dealings with former clients. Enron filed for Chapter 11 bankruptcy protection on Dec. 2 and hired Cooper, a restructuring specialist and partner in the firm Zolfo Cooper, in late January to see it through a reorganization of the collapsed energy firm.

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