Enron Bankruptcy
The December 2001 collapse of America's seventh-largest corporation, the largest bankruptcy filing in U.S. history at the time.
Bankruptcy
9 entries
E
Enron's London Hub
Enron's European headquarters at 40 Grosvenor Place in London, which grew from a small merchant trading office in 1995 to a multi-country operation with approximately 30 lawyers, integrated metals trading, and global markets products before filing for UK administration on November 30, 2001.
J
Joseph H. Parks, Jr.
Natural gas analyst and trader at Enron North America who led natural gas inventory liquidation during Chapter 11 bankruptcy before transitioning to Bridgeline Holdings.
K
Kenneth L. Lay
Founder, chairman, and CEO of Enron Corporation who created the company through the 1985 merger of Houston Natural Gas and InterNorth, transforming it from a regional pipeline company into a $100 billion energy trading giant before its collapse
M
Michelle Cash
Employment and labor attorney who managed Enron's workforce legal matters, including mass layoffs during the 2001 bankruptcy crisis.
P
Portland General Electric
Oregon's largest electric utility, acquired by Enron in 1997 for $3.1 billion and inadvertently entangled in the California energy crisis through Enron's Portland-based West Power trading desk
R
Retention Bonuses and the 401(k) Lockout
Enron's controversial $55-58 million in retention bonuses paid to 500 employees just before bankruptcy, while 4,500 workers lost their jobs and saw retirement savings decimated during a 401(k) lockout.
T
The Enron Stock Price Collapse
Enron's stock price fell from its all-time high of $90.75 in August 2000 to $0.26 by November 30, 2001 -- a 99.7% decline over 16 months that destroyed $70 billion in market capitalization, wiped out $2.1 billion in employee pension plans, and eliminated 5,600 jobs.
The Failed Dynegy Merger
The proposed $9 billion merger between Dynegy and Enron that collapsed after 19 days, removing the company's last path to survival and triggering the largest bankruptcy in U.S. history.