Bankruptcy Judge Allows Bidding on Enron Wind to March 27

2002-03-05 [SolarAccess.com] U.S. Bankruptcy Court Judge Arthur Gonzalez approved Enron Corp’s motion to pursue the sale of its subsidiary Enron Wind to GE Power Systems but gave alternate bidders until March 27 to submit offers for the company. The judge also assigned a US$5.625 million breakup fee should another bidder offer more than the US$258 million offered by GE. The judge set an April 2 auction date and an April 4 hearing date “to consider objections to what the debtor considers the highest bid.”

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