COMPANY NEWS: Enron sells pipeline, still faces lawsuits, hearings

The bankrupt Enron Corp., Houston, still faces a myriad of unresolved issues, including lawsuits and various hearings in Washington, DC, but it settled one legal dispute by agreeing that Houston-based Dynegy Inc. can exercise its option to buy Enron's Northern Natural Gas Pipeline unit.That settlement does not affect the rights of either company in their continuing legal battle over Dynegy's Nov. 28 decision to abandon its Nov. 9 agreement to merge with Enron.The deal was curtailed shortly after credit ratings agencies began downgrading Enron to below an investment-grade ranking. Consequently, Enron filed for Chapter 11 bankruptcy protection on Dec. 2 in a federal court in New Yor...

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