The Washington Post’s Carrie Johnson — who has written more balanced articles on the Enron scandal than her better-publicized colleagues in the mainstream media — weighs in with this interesting piece today on the process of selling Enron’s remaining assets under the liquidation plan that the Bankruptcy Court confirmed in the company’s chapter 11 case. Turns out that mopping up on Enron has become very lucrative work:

[T]he lawyers, accountants and turnaround experts who guided the company through bankruptcy have collected or are seeking substantial amounts. Stephen F. Cooper, the corporate executive who served as Enron’s interim chairman, wants a $25 million success fee — besides his $1.3 million salary and extra consulting fees the company paid several of his associates at Kroll Zolfo Cooper LLC.
The law firm of R. Neal Batson, who prepared several reports as the company’s court-appointed bankruptcy examiner over an 18-month period, took home $90 million.

Dozens of other professional advisers billed more than $1 billion, making the Enron bankruptcy the costliest ever, said University of California at Los Angeles law professor Lynn M. LoPucki.
Enron’s current directors are well compensated for their work, which they say is more akin to a management role than a traditional corporate board position. Each was recruited to handle a specific issue. [ Chairman John J.] Ray, who negotiates with investment banks and others, makes $1.2 million per year. California investment banker and vice chairman Robert M. Deutschman, who helps with valuing and spinning off the assets, collects $420,000. Three other directors, including Latimer, earn $300,000. Stephen D. Bennett, who has a background in the steel industry, monitors costs and budgets. Rick A. Harrington, a former top lawyer at Conoco Phillips, reviews litigation and regulatory issues.
“The immediate cause of the high fees in Enron is the number of professional firms hired to work on the case,” said LoPucki, author of a book on problems with the bankruptcy system.

Professor LoPucki’s book is noted in this earlier post.