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AXA: Only $180 Million In Enron Exposure

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NU Online News Service, Dec. 4, 1:05 p.m. – The AXA Group, Paris, says it has completed a review of its portfolio and believes that it has less than $180 million in investments in Enron Corp., Houston.

All exposure comes through holdings of Enron bonds, not through holdings of Enron stock, AXA says.

Enron, a large natural gas distribution and trading company, filed for Chapter 11 bankruptcy protection in New York Monday, saying it had $50 billion in assets and $31 billion in liabilities.

Chapter 11 proceedings give troubled companies a chance to reorganize their operations. There is still a possibility that Enron could end up making good on some or all of its unsecured obligations.