Opinion
Case No. 01-16034 (AJC), Jointly Administered
December 12, 2002
CLIFFORD CHANCE US LLP, Attorneys for PGE National Energy Group, Dennis J. Drebsky, Esq.
ORDER PURSUANT TO 11 U.S.C §§ 105(a) AND 541 OF THE BANKRUPTCY CODE, COMPELLING ENRON CORP. TO TURN OVER CERTAIN ASSETS
Upon the motion dated October 29, 2002 (the "Motion") of PGE National Energy Group and certain of its subsidiaries, PGE Energy Trading-Power, L.P. and PGE Energy Services Ventures, Inc. (collectively "NEG"), NEG seeks entry of an order compelling Enron Corp. and certain of its subsidiaries (collectively "Debtors" or "Enron") to immediately turn over certain payments (the "Misdirected Payments") (1) erroneously transferred by PGE Energy Trading-Power, L.P. to Enron; and (2) erroneously transferred by customers of PGE Energy Services Corporation to Enron; and it appearing that this Court has jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C. § 157 and 1334; and it further appearing that due and proper notice of the Motion has been given to all parties in accordance with this Court's Amended Case Management Order Establishing, among other things, Noticing Electronic Procedures, Hearing Dates, Independent Website and Alternative Methods of Participating at Hearings, dated February 26, 2002, and that no further notice need be given; and the Debtors and the Official Committee of Unsecured Creditors having no opposition to the relief requested in the Motion; and a hearing having been held before this Court on December 12, 2002 (the "Hearing") to consider the Motion and the relief requested therein; and all parties in interest having been afforded an opportunity to be heard at the Hearing; and upon the Motion, the exhibits thereto, the evidence presented and arguments made at the Hearing, and all other proceedings had before the Court, and after due deliberation thereon, good and sufficient cause appearing therefor,
IT IS HEREBY ORDERED THAT
1. The Motion is granted in its entirety and in all respects.
2. Enron is directed, pursuant to sections 105 and 541 of the Bankruptcy Code to pay to NEG as soon as reasonably practicable, but no later than January 13, 2003, the Misdirected Payments erroneously received by Enron and to take any other such actions as are necessary to return said funds to NEG.
3. The terms of this Order shall be binding upon the Debtors and their estates, including, without limitation, Enron and all other parties in interest, and any successors to the Debtors, including any trustee or examiner appointed in these cases or any subsequent or converted case of the Debtors under chapter 7 or chapter 11 of the Bankruptcy Code and shall be without prejudice to any claims held by the Debtors against NEG and any claims held by NEG against the Debtors.
4. The Court shall retain exclusive jurisdiction (a) to resolve any disputes, controversies or claims arising out of or relating to the Order, and (b) to interpret, implement and enforce the provisions of this Order.
5. This Order shall be effective and enforceable immediately upon entry of this Order, pursuant to F.R.Bankr.P. 6004(g).