Enron Creditors Recovery asks court to force Hewitt to fix savings plan misallocation

By Caroline Salls

Pittsburgh, Jan. 24 - The Enron Creditors Recovery Corp. has asked a district court to ensure that Hewitt Resources fixes a misallocation that affected Enron Corp. Savings Plan members following a Hewitt internal software error, according to an Enron news release.

According to the release, thousands of savings plan claimants were allegedly incorrectly distributed funds due to Hewitt's admitted mistakes.

Specifically, Enron said it is seeking a court order to force Hewitt to fund any shortfall that remains after a second settlement allocation and to extend a previously approved court procedure for the independent review of any disputed claimant calculations.

"After months of delay, and at a time when the Savings Plan is poised to send corrected allocations to participants, Hewitt has once again failed to live up to its commitment to fully fund the shortfall it created," Enron Creditors Recovery president and chairman John Ray III said in the release.

Enron is a Houston-based energy company that emerged from bankruptcy on Nov. 18, 2004.

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