Enron files Chapter 11 reorganization plan

Enron Corp. filed a 900-page reorganization plan that outlines how it proposes to pay a fraction of the $67 billion that the company estimates in creditors' claims.The former natural gas and trading giant filed for Chapter 11 bankruptcy protection on Dec. 2, 2001, in a federal court in New York City (OGJ, Jan. 14, 2002, p. 34). At that time, it was the largest US bankruptcy filing. WorldCom has since taken that distinction.The multibillion-dollar total is Enron's working estimate of third-party claims. Company officials said the total dollar volume of all pending claims is worth substantially more than that. Enron has no final recovery estimate, spokesman Mark Palmer said. Recover...

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