Why is Enron not facing liquidation, but Ch11 reorg instead?
The recent news that the SEC has approved the plan for a split and a name
change to Cross-Country seems incredible. While it is true that the
Bankruptcy Court must still appprove, apparently that *is* likely.
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A56011-2004Feb19¬Found=trueMost likely because the liquidated value would not provide much to the
creditors... profits from continuing the operations of hard asset
holdings would provide more. A great book to read about Enron is "The
Smartest Guys in the Room." I highly recommend it.#If you have any other info about this subject , Please add it free.# |
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6 January 2009 |
cameltoepants.com |
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