Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: CJ who wrote (1160)	12/7/2001 12:05:22 PM
From: jjs_ynot	Read Replies (2) of 1433

The pecking order in a reorganization follows a similar structure with Bondholders often/usually becoming the new equity holders. Employees and the Government also fall in the pecking order and via the 401k filing and Government review they appear to be trying to get into the payment chain. Additionally there are the liabilities in all of the commodity swaps that Enron executed or brokered as well as the liability of Enron's inability to deliver on contracts such as for electricity in Europe. Also, see this news story: marketwatch.com This will reduce the chances that any stock or bondholder in the parent can get to the assets in the subsidiary companies as the individually file for Ch. 11 and reduce the parent's asset position.

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