July 12, 2003
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.


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.


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

The amazing this about this mess is that the creditors will even a fraction of what they are owed. Even they did not expect that to happen.

Posted by: William Hughes on July 12, 2003 6:12 PM