Enron- USA most egregious bankruptcies – #6


Enron Corporation was a American Energy company base in Houston, Texas. Enron bankruptcy led to the dissolution of Arthur Andersen, one of the largest audit partnership in the world.

For years, Enron used misrepresented complex financial statements to inflate revenues and hide losses.

Enron filed for Chapter 11 on December 2, 2001. All employees were told to pack their belongings and given 30 minutes to vacate the building. Most of the 15,000 employees saving plan relied on Enron stock and became instantly worthless.