In re ENRON CORP., ET AL., Chapter 11, Debtors

Case No. 01-16034 (AJG) Jointly AdministeredUnited States Bankruptcy Court, S.D. New York
September 5, 2003

ORDER DENYING MOTION OF THE BAUPOST GROUP, L.L.C. AND RACEPOINT PARTNERS, L.P. FOR ORDER, PURSUANT TO 11 U.S.C. § 105 AND 1106, DIRECTING APPOINTMENT OF EXAMINER TO INVESTIGATE AND REPORT ON (1) THE FAIRNESS TO THE ESTATE AND CREDITORS OF ENRON CORP. OF THE PROPOSED SETTLEMENT BETWEEN ENRON CORP. AND ENRON NORTH AMERICA CORP. CONTAINED IN THE DEBTORS’ JOINT PLAN; AND (2) RELATED MATTERS
ARTHUR GONZALEZ, Bankruptcy Judge

The Baupost Group, L.L.C. and Racepoint Partners, L.P. having filed a motion on July 31, 2003 (the “Baupost Examiner Motion”) for an order pursuant to sections 105 and 1106 of chapter 11 of title 11 of the United States Code, directing the appointment of an examiner to investigate and report on (1) the fairness to the estate and creditors of Enron Corp. of the proposed settlement between Enron Corp. and Enron North America Corp. contained in the Debtors’ proposed joint plan and (2) related matters; and objections to the Baupost Examiner Motion having been filed by: (i) Enron Corp. and its affiliated debtor entities, as debtors and debtors in possession, (ii) the statutory creditors’ committee, (iii) Appaloosa Management L.P., Angelo, Gordon Co., L.P. and Oaktree Capital Management, LLC, (iv) Bear Stearns Co., Inc., Citadel Investment Group, L.L.C. and the The Vanguard Group, Inc., (v) the Dunhill Group, (vi) the Southern Ute Indian Tribe, and (vii) Dominion Resources, Inc., and its affiliates; and a response to, and statement in respect of, the Baupost Examiner Motion having been

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filed by Neal Batson, the Enron Corp. Examiner; and a statement in respect of the Baupost Examiner Motion having been filed by Harrison J. Goldin, the Enron North America Corp. Examiner; and it appearing the Court has jurisdiction to consider and determine the Baupost Examiner Motion and the relief requested therein pursuant to 28 U.S.C. § 157
and 1334; and a hearing to consider the Baupost Examiner Motion having been held before this Court on September 4, 2003 (the “Hearing”) on due notice with appearances of the parties noted on the record; and after considering all pleadings filed in connection with the Baupost Examiner Motion and the record of the chapter 11 cases, the Court having rendered its decision on the record; and upon due deliberation and good and sufficient cause appearing therefor:

IT IS HEREBY ORDERED that:

The Baupost Examiner Motion is denied.

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