On 25 October 2001, Enron, a leading US energy brokerage firm, dismissed its financial director owing to a $1.2 billion loss.On 2 December, Enron filed for bankruptcy protection. Ten days later, Enron presented its restructuring plan and announced a debt of $22 billion. It was the biggest bankruptcy of a private company in the United States. The share price collapsed from $90 to $1 in a few months. To fudge their accounts, the managers had created 3,000 offshore companies through which they hid the losses. As a result of the lawsuit, 27,000 of the 28,000 employees were laid off and lost $1.2 b...
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