United States ยท Energy trading and services
Enron Corp. insolvency: proceedings and outcome
Enron Corp., a Houston-based energy company, filed for Chapter 11 on 2 December 2001, after a proposed merger with Dynegy was called off. Its plan was confirmed by the US Bankruptcy Court for the Southern District of New York on 15 July 2004 and became effective on 17 November 2004, when its common stock was cancelled. The collapse led to a federal Enron Task Force investigation, which the FBI says resulted in 22 convictions.
Liquidated Under a Chapter 11 plan effective on 17 November 2004, Enron's existing common stock was cancelled and the company said it had no value, with assets to be distributed to creditors under the plan.1
Assets as reported at the time of filing, per Wikipedia. Figures as of 2 December 2001.3
Proceedings
| Type | Court or body | Case | Filed |
|---|---|---|---|
| Chapter 112,1,3 | US Bankruptcy Court for the Southern District of New York, United States (New York) | 2 December 2001 |
Timeline
- A proposed merger with Dynegy was rejected.3
- Enron filed for Chapter 11 bankruptcy protection.2,3
- Enron's auditor Arthur Andersen was found guilty of obstruction of justice. The US Supreme Court later overturned the conviction.3
- The bankruptcy court confirmed Enron's Chapter 11 plan.1
- The plan became effective. Enron's outstanding stock was cancelled and new common stock issued to a Common Equity Trust.1
- A shareholder class action produced a settlement of 7.2 billion USD.3
Related actions
- US Department of Justice Enron Task Force (FBI, IRS Criminal Investigation, SEC, DOJ prosecutors). The FBI says 22 people were convicted for their actions related to the fraud and more than 105 million USD was forfeited to help compensate victims.2
Sources
- US Securities and Exchange Commission (EDGAR), Enron Corp. Form 8-K (plan effective date) (17 November 2004)
- Federal Bureau of Investigation, Enron (Famous Cases and Criminals)
- Wikipedia, Enron scandal (27 October 2026)