Enron Creditors Recovery Corp. (ECRC), formerly Enron Corp. (Enron) is engaged in reorganizing and liquidating certain of the operations and assets of the pre-bankruptcy Enron for the benefit of creditors. As of October 2007, ECRC has made 18 disbursements to creditors. The Company has filed MegaClaims complaints against 11 banks that ECRC contends contributed to the collapse of Enron in 2001. The MegaClaims complaint specifically alleges, consistent with the findings of the court-appointed Examiner, the involvement of those banks in the fraud, breaches of fiduciary duties, and civil conspiracy that created losses in the tens of billions of dollars.
Quick Financial Synopsis
BRIEF: Enron Creditors Recovery Corp made markets in electricity & natural gas, delivered energy and other physical commodities, and provided financial and risk management services.9/30/01, revenues rose from $59.89B to $138.72B. Net income applic. to Common before accnt. changes fell 80% to $145M. Revenues reflect growth in the wholesale and retail energy businesses and the natural gas pipelines. Net income offset by a $710Mlosson Raptor SPEs.
Company Address
Enron Capital Resources, L.P.
Enron Building 1400 Smith Street Houston TX 77002
P: +1713.8536161 F: +1713.8533129