Under the plan, creditors will receive less than 20 cents in the dollar and the Enron name will disappear.
Once Enron sells off its major assets to pay creditors, all that will be left of the scandal-ridden company – once the US’s seventh-largest – will be a smattering of pipeline and power assets in 14 countries.
Enron declared bankruptcy on 2 December 2001, after it emerged the company had hidden millions of dollars in debt using off balance sheet transactions.
The ultimate shame however was served on the company’s auditors, Andersen, when the accountancy firm collapsed in 2002 due to the scandal.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements