Enron Corp., Houston, accused the PBGC of "forum shopping" in the agency's efforts to terminate Enron's four defined benefit plans. In court papers filed in U.S. District Court in Houston, Enron accused the PBGC of trying to accomplish in the Texas court what it couldn't accomplish in U.S. Bankruptcy Court in New York, where the company's Chapter 11 protection case is being heard. The PBGC's June 3 motion, filed in the Houston court, sought to stop Enron's reorganization efforts and terminate its pension plans to preserve their assets. The New York court denied a similar motion and confirmed Enron's reorganization plan July 15.
Loretta Berg, PBGC spokeswoman, could not comment by press time.