BusinessBusiness RecoveryEnron looks to emerge from the ashes

Enron looks to emerge from the ashes

Disgraced energy company Enron is hoping to emerge from Chapter 11 bankruptcy protection under a rescue plan it is presenting to a New York court.

Link: Wife of former Enron CFO gets 12 months

The company hopes to be reborn under a new name within the next few weeks, with Prisma Energy a possibility.

Following months of complex financial reorganisation, the company has sold off dozens of businesses and unwound many of its trading partnerships.

Creditors that lost as much as $63bn (£34bn) when the company collapsed in December 2001 will receive around 22 cents in the dollar in the form of cash and Prisma shares, reports the BBC.

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