Enron

Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its unsuccessful person on December 2, 2001, Enron diligent virtually 22,000 staff and was one of the servicemans jumper lead electricity, immanent gas, communications, and pulp and authorship companies, with claimed revenues of nearly $101 billion in 2000.[1] Fortune named Enron Americas just about Innovative Company for hexad consecutive years. At the complete of 2001, it was revealed that its reported financial condition was sustained substantially by institutionalized, systematic, and creatively planned history fraud, known as the Enron filth. Enron has since become a commonplace symbol of willful collective fraud and corruption. The outrage as well brought into question the accounting practices and activities of numerous corporations throughout the United States and was a factor in the foundation garment of the SarbanesOxley Act of 2002. The scandal also affected the wider business world by create the dissolution of the Arthur Andersen accounting firm.[2] Enron filed for loser protection in the Confederate District of New York in deep 2001 and selected Weil, Gotshal & Manges as its bankruptcy counsel.

It emerged from bankruptcy in November 2004, pursuant to a court-approved plan of reorganization, later one of the biggest and most complex bankruptcy cases in U.S. history. A new board of directors changed the name of Enron to Enron Creditors recovery Corp., and focused on reorganizing and liquidating certain operations and assets of the pre-bankruptcy Enro n.[3] On family 7, 2006, Enron sold Prisma ! qualification planetary Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI).[4] Enron traces its roots to the blue Natural Gas Company, which was form in 1932, in Omaha, Nebraska. It was shake up in 1979 as the leading subsidiary of a memory company, InterNorth which was a highly change energy and energy link products company. Internorth was a...If you want to get a full essay, order it on our website: OrderCustomPaper.com

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