CitiGroup

Client

CitiGroup, a multi-billion global diversified money center bank was sued by the Enron estate, seeking the recovery of $250 million in an alleged preferential transfer.

Challenge

Bridge was engaged by attorneys representing CitiGroup to prepare and defend an expert report on the reasonableness of restructuring efforts and actions taken by Enron in the ninety days prior to Enron’s bankruptcy looked at from the perspective of a restructuring advisor working for Enron.

Solution

Bridge was able to piece together the various business plans and changes in strategy required to improve Enron’s liquidity position over the months immediately proceeding Enron’s bankruptcy.  This was done to determine whether a credible plan was in place to enable Enron to resolve its existing liquidity situation in the fall of 2001.

Results

A Bridge Managing Director is serving as an expert in defense of this action and is currently preparing for trial.