Goldman Sachs Inc., the famous Wall Street investment bank, will compensate Enron creditors for about $7 million. A month before Enron went bankrupt, Goldman Sachs helped Enron to pay commercial-paper investors. The commercial paper was repurchased by Enron right before the bankruptcy, and now it demands that Goldman Sachs pays a part of Enron’s debts. Goldman Sachs was once a great name in Wall Street, but has lost most of its fame because of the economic crisis. It has been reformed to a financial holding recently. Enron has already sued 175 firms to pay its debts. In total, $22 has been recovered to compensate Enron creditors.
Filip De Geyter
Source: Chron
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