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The top government lawyer in the Enron Corp. bankrtupcy case filed a motion in the U.S. Bankruptcy Court of the Southern District of New York asking the court to find Credit Suisse First Boston’s head of investment banking, along with six other CSFB executives, in contempt of court if they failed to respond to a subpoena that was issued at the end of February. Neal Batson, who was appointed by the Justice Department as the chief examiner, subpoenaed Adebayo Ogunlesi, CSFB’s head of investment banking, who used to run its global energy group. The subpoena asked him to testify about transactions CSFB created for Enron. Three investment bankers in the energy group, Osmar Abib, Brian McCabe and James Moran, also received subpoenas, as did Curt Launer, an analyst, Mary Beth Mandanas, an associate in the leveraged finance group, and Laurence Nath, a managing director in CSFB’s structured products group. In response to the subpoena, the CSFB executives asked for a delay until they answered a class action suit, Newby v. Enron Corp. But, in a motion filed to the U.S. Bankruptcy Court of the Southern District of New York, Batson argues the request is “highly impracticable” and “potentially crippling” to the Enron investigation. He asks the court to find them in contempt if they do not adhere to his earlier subpoena. Key to his argument is timing. Batson says the Newby case will not be resolved for months: “The plaintiffs in the Newby class action are many months away from being prepared to proceed with similar discovery, since they have not even received, let alone begun to analyze, the hundreds of thousands of documents that have been produced.” On the other hand, he contends he “is under a duty to conduct his inquiry promptly and efficiently, and the next interim report is due to be filed in late June 2003.” CSFB spokesman Pen Pendleton said, “The examiner has informed CSFB that he intends to take testimony from eight investment banks including CSFB, and we have and will continue to cooperate with his investigation.” He added: “This is merely a procedural matter regarding the timing of depositions consistent with prior orders from the court.” Cravath, Swaine & Moore’s Julie North, who is representing CSFB in the matter, declined to comment. Copyright �2003 TDD, LLC. All rights reserved.

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