Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: in_cog_nito who wrote (1119)	12/5/2001 10:40:04 AM
From: James Calladine	Read Replies (1) of 1433

Yes, it is true that ENE has huge assets, but it also has huge liabilities--the extent of which are far from clear at this time. Others have commented about how fast ENE lined up "debtor in possession" financing. That is not surprising to me, since the financial institutions in question already have huge loss exposure, and (in my view) are putting in money (securing better claims on assets in the process), and POSSIBLY assisting in a turnaround play. But their motivation is protecting their own situation. In this situation I would not expect ANYBODY to take any actions based on a "vote of confidence". The demise of the company to this point is based upon a vote of "no confidence". I do not know NYSE rules. Under what circumstances can NY listed companies be in Chapter 11 and still trade? If trading stops at some point, that will put a chill through many. Namaste! Jim

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