Enron Corporation - 1990's dated Pair of Stock Certificates

2 Stocks with letters and receipt.

Enron Corporation was an American company specializing in energy, commodities, and services, headquartered in Houston, Texas. Founded in 1985 by Kenneth Lay through the merger of Lay's Houston Natural Gas and InterNorth, both of which were relatively small regional firms. Prior to its bankruptcy on December 3, 2001, Enron employed around 29,000 individuals and was a significant player in the electricity, natural gas, communications, and pulp and paper sectors, boasting reported revenues of nearly $101 billion in 2000. Fortune recognized Enron as "America's Most Innovative Company" for six consecutive years.

At the close of 2001, it was disclosed that Enron's financial statements were maintained through a systematic, institutionalized, and creatively orchestrated accounting fraud, which has since been referred to as the Enron scandal. Enron has since become a prominent case study of deliberate corporate fraud and corruption. This scandal raised serious concerns regarding the accounting practices of numerous corporations in the United States and contributed to the passage of the Sarbanes–Oxley Act of 2002. Additionally, the scandal had a significant impact on the broader business community, leading to the dissolution of the Arthur Andersen accounting firm, which had served as Enron's primary auditor for many years.

In late 2001, Enron filed for bankruptcy in the Southern District of New York and appointed Weil, Gotshal & Manges as its legal counsel for the bankruptcy proceedings. The bankruptcy was concluded in November 2004, following a court-sanctioned reorganization plan. A newly established board of directors renamed the company Enron Creditors Recovery Corp., focusing on the reorganization and liquidation of certain operations and assets from the pre-bankruptcy Enron. On September 7, 2006, Enron divested Prisma Energy International Inc., its final remaining business, to Ashmore Energy International Ltd. (now AEI).

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