COMPANY NEWS: Enron's fall sends tremors through energy industry

12/10/2001
One-time financial and energy giant Enron Corp. filed for Chapter 11 bankruptcy protection Dec. 2 and sued former suitor Dynegy Inc. for $10 billion for alleged breach of contract for terminating a last-minute merger. The filing is the largest-ever US Chapter 11 filing, in which Enron listed $31.1 billion in liabilities, excluding off-balance-sheet transactions, and $50 billion in assets.Up until 6 months ago, Enron was the top US natural gas and power trader with $1.3 billion in profits and $100 billion in revenue in 2000. But in a stunning reversal of fortune, the company reported a third quarter loss and a $1 billion reduction in shareholder equity that was linked to questionable off-b...
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