New York (July 17, 2003) -- Andersen Worldwide Societe Cooperative, the network of foreign accounting firms once linked to Andersen, Enron’s disgraced former auditor, will reportedly pay $40 million to settle a lawsuit related to Enron’s collapse, according to published reports.

Andersen Worldwide also agreed to pay $20 million to Enron's creditors, Bloomberg News reported. The agreement, which doesn’t cover Arthur Andersen, is a fraction of the $29 billion that shareholders and former workers say they lost in Enron's meltdown. The settlement was approved by Judge Arthur J. Gonzalez of Federal Bankruptcy Court in Manhattan last week.

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