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Enron CEO says it could face claims up to $100 billion: WSJ

Enron Corp's acting chief executive officer estimated claims facing the collapsed energy trader at between $60 billion and $100 billion in his first address to the company's employees, the Wall Street Journal said in its online edition on Friday.

Stephen Cooper also warned there would be more layoffs at the firm, which would be "not substantial," the paper reported.

Cooper said Enron's stock was likely to end up worthless as the company faced claims by creditors and shareholders of between $60 billion and $70 billion, but which could go as high as $100 billion, the Journal reported.

One employee at the meeting told Reuters that many of Cooper's comments were similar to the plans he had laid out in the past for a reconstituted, post-bankruptcy Enron.

The "newco", as he referred to it, will have at its backbone natural gas transmission -- a full-circle return to the business that gave Enron its start when it was formed from the merger of two gas companies, Houston Natural Gas and Internorth Inc in 1986.

The company would also retain Elektro, its Brazilian power transmission business.

Most of the non-core businesses will be sold to pay off Enron's creditors, though a few non-core but profitable groups may remain, said the employee, who asked not to be identified.

The newco, which has yet to be given its future name to remove the Enron taint, could also pursue litigation against a number of potential defendants.

Cooper has said in the past that auditors Arthur Andersen, outside law firm Vinson & Elkins of Houston and possibly former executives could be targets of legal action.

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