Overseeing

Citing the demands of overseeing Enron Corp.’s complex bankruptcy, the directors who now run the defunct company voted pay increases for themselves that have at least doubled their compensation, and in one case, increased the pay sixfold.

Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.

Under fire for overseeing the reclassification of 20% of the company’s oil and gas reserves in January, Royal Dutch/Shell Corp.’s chairman on Thursday brushed off calls for his resignation, and said he was determined to “fix” the reserves situation.

Enron Corp. issued another revised creditor plan to the bankruptcy court overseeing its case on Monday, noting that it now expects to increase the amount of money for unsecured creditors to receive when it exits Chapter 11 bankruptcy court protection. The revised figures were included in court documents submitted to the U.S. Bankruptcy Court for the Southern District of New York on Monday.

El Paso Corp. will pay Mirant Corp. $87.5 million as part of a settlement agreement approved this week by the Texas bankruptcy court overseeing Mirant’s Chapter 11 case. Mirant’s bankruptcy led to a default on a master netting agreement between the two companies, which had hundreds of open trading positions.

El Paso Corp. will pay Mirant Corp. $87.5 million as part of a settlement agreement approved this week by the Texas bankruptcy court overseeing Mirant’s Chapter 11 case. Mirant’s bankruptcy led to a default on a master netting agreement between the two companies, which had hundreds of open trading positions.

The two federal judges in Houston and New York City who are overseeing Enron Corp.’s massive bankruptcy case ordered mediation last week in an attempt to clear some of litigation confronting the courts. In a joint hearing, Houston federal District Judge Melinda Harmon, who is handling shareholder lawsuits, and Manhattan federal Bankruptcy Judge Arthur J. Gonzalez, who is handling the overall Enron bankruptcy, ordered several parties to attempt settlements through a mediator. District Judge Kevin Duffy, located in Manhattan, agreed to serve as mediator, and Harmon and Gonzalez said in their joint order that the mediation results would be nonbinding, unless the parties otherwise agree. A spokesman for the University of California, the lead plaintiff in the shareholders’ lawsuit, said the university welcomed the courts’ action “to help speed restitution to those victimized in the Enron fraud.” Trey Davis added, “We will fight for our fair share during the mediation process and believe we are in a strong position to prevail on behalf of the shareholders.”

The two federal judges in Houston and New York City who are overseeing Enron Corp.’s massive bankruptcy case have ordered mediation in an attempt to clear some of the huge amount of litigation confronting the courts.

The federal judge overseeing Enron Corp.’s bankruptcy case has given the Houston-based company a fourth and final deadline of June 30 to file a reorganization plan.