BusinessBusiness RecoveryEnron Europe faces $1bn in liabilities

Enron Europe faces $1bn in liabilities

PricewaterhouseCoopers has estimated that gross liabilities of the energy trading arm of Enron's London-based European operations will be in excess of $1bn (£702m).

PwC, administrators to Enron Europe, confirmed it hoped to recover more than £100m from profitable contracts. A creditors’ meeting is scheduled to take place early next month when more details will emerge.

The US energy giant filed for Chapter 11 bankruptcy protection on 2 December 2001. PwC has already raised more than $143m (£100m) from sales of Enron’s European businesses.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

4d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

4d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor