Enron reorganization complete

Enron's bankruptcy reorganization plan has been completed and filed. This is pretty much all you need to know:

Two years ago, Enron claimed $67 billion in assets. Today, it has at least $67 billion in debt.

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Creditors of parent company Enron Corp. will see a return of 14.4 cents on the dollar on their claims. Creditors of Enron North America, which owned the commodity trading business, will receive 18.3 cents on the dollar.

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Shareholders get nothing in the plan. The fate of former employees is less clear.

There was a time when it seemed like everyone I knew worked for Enron or spoke wistfully about wanting to work for Enron. What a gigantic, monumental, tragic waste.

Posted by Charles Kuffner on July 12, 2003 to Enronarama | TrackBack