Enron Employees Seek Committee

    An attorney representing several Enron ex-employees has contacted the Office of the United States Trustee about appointing an official employee committee in the case. David McClain, a Houston attorney currently representing an ad-hoc committee of employees, says that the currently comprised official unsecured creditors committee is not well suited to represent the interest of the numerous employee creditors with claims against Enron and its subsidiaries. McClain asserts that there is a fundamental difference between employees and the majority of members of the official committee, who are large institutional creditors, and who would participate in the case using their own resources even if they were not on the official committee. In contrast, the group of ex-employees (which includes retirees) is numerically large, and keenly interested in the case, but lacks the individual resources to participate effectively, particularly since most of the members of the group live far from New York. According to McClain, the sole putative employee representative on the existing official committee, Mr. Michael Moran (former general counsel) enjoys a good reputation but is not necessarily representative of the thousands of former employees. Moreover, Moran’s sole vote will tend to suppress the impact of employee interests . No action has yet been taken by the United States Trustee on McClain’s request.

For further information contact
David McClain (http://www.mcclainsiegel.com)