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Morgan Stanley buys £12.8 million Enron claim
New York, April 20 - Morgan Stanley & Co. International Ltd. bought a £12.788 million claim against Enron Corp. from Landesbank Hessen-Thuringen Girozentrale, London Branch via Bear Stearns Bank plc.
Morgan Stanley & Co. International is based in London. Bear Stearns Bank is based in Dublin, Ireland.
The claim against Enron was originally owned by Landesbank Hessen-Thuringen Girozentrale as a member of a syndicate that lent £110 million to Enron Europe Power 3 Ltd. under a term loan A and £49.5 million under a term loan B.
Landesbank Hessen-Thuringen Girozentrale sold the claim to Bear Stearns which then sold it to Morgan Stanley, all on Feb. 13.
The claim traded is made up of £12.5 million of principal and £288,000 of interest due on the date Enron filed for bankruptcy, according to an April 20 filing with the U.S. Bankruptcy Court for the Southern District of New York.
Enron, a Houston-based energy company, filed for Chapter 11 on Dec. 2, 2001. Enron's Chapter 11 case number is 01-16034.
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