Enron Corporation was an American energy, commodities, and services company based in Houston, Texas. Before its unsuccessful person on December 2, 2001, Enron industrious virtually 22,000 staff and was one of the servicemans jumper lead electricity, inwrought gas, communications, and pulp and authorship companies, with claimed revenues of nearly $101 billion in 2000. Fortune named Enron Americas just about Innovative Company for six consecutive years. At the complete of 2001, it was revealed that its reported financial direct was sustained substantially by institutionalized, systematic, and creatively planned explanation fraud, known as the Enron filth. Enron has since become a democratic symbol of willful collective fraud and corruption. The turd besides 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 aff ected the wider business world by make the dissolution of the Arthur Andersen accounting firm. Enron filed for bankruptcy protection in the southern 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 Enron.[3 ] On family 7, 2006, Enron sold Prisma qual! ification world-wide Inc., its last remaining business, to Ashmore Energy International Ltd. (now AEI). Enron traces its roots to the Union Natural Gas Company, which was form in 1932, in Omaha, Nebraska. It was organise in 1979 as the leading subsidiary of a safekeeping company, InterNorth which was a highly change energy and energy related to products company. Internorth was a...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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