Judge Considers Account Freeze for 29 Enron Officers
Within hours of receiving a request from Amalgamated Bank for an emergency injunction to freeze proceeds from insider trading at Enron, US District Court Judge Lynn Hughes scheduled a hearing for Friday, December, 7th.
The judge will also hear the Bank's request for unusual "expedited discovery" powers to open up personal records of the 29 defendants and reveal the extent of additional liquidations and limited partnerships not currently made public.
Amalgamated Bank submitted the ex parte application for a temporary restraining order and injunction on the heels of filing a lawsuit accusing Enron executives and Board members of selling more than one billion dollars worth of their own Enron shares at the same time they were falsifying the company's financial condition. The hearing will be held at 9 AM on Friday, December 7th, at the United States Courthouse in Houston (Courtroom 11-C, 515 Rusk Avenue).