Kenneth Lay’s defense attorney tried to blow holes through former Enron Corp. Treasurer Ben Glisan’s testimony Monday by questioning his accounting expertise, his assessment of the company’s liquidity before it fell and whether he knew everything that Lay knew when Lay made statements to analysts and employees.

Bruce Collins, from Carrington, Coleman, Sloman & Blumenthal in Dallas, particularly questioned Glisan’s knowledge of FASB 121, which changed how companies had to account for goodwill and which he testified Enron had stretched so it wouldn’t have to book losses. While Glisan thought he described the rule “fairly,” he agreed he was not an expert on its complexities and worked on the economics, not the accounting, of the rule.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]