- The Washington Times - Thursday, December 27, 2001

Enron Broadband Services LP has filed for Chapter 11 bankruptcy protection, following in the footsteps of 28 of its affiliates.
The filing, which the telecommunications products trader made Monday in U.S. Bankruptcy Court in Manhattan, listed assets of $64.5 million and debt of $63.7 million, not counting off-balance sheet and contingent obligations.
Meanwhile, Enron Freight Markets Corp. sought bankruptcy protection Friday. The Enron affiliate, primarily engaged in the rail and truck transportation procurement business, listed $6.3 million in assets and $4.7 million in debts not counting off-balance sheet and contingent obligations.
Friday also saw petitions filed by Enron affiliate Energy Information Solutions Inc., EESO Merchant Investments Inc. and Enron Federal Solutions Inc., all of which are 100 percent owned by bankrupt Enron unit Enron Energy Services Operations Inc.
Enron Broadband Services LP estimates it has between 16 and 49 creditors. Its top unsecured creditors hold trade claims, the largest claim being a $660,935 debt held by Global Crossing Bandwidth Inc.
Enron Bandwidth Inc. which the bankruptcy petition doesn't list as bankrupt is a 99 percent general partner of Enron Broadband Services LP.
A similarly named affiliate, Enron Broadband Services Inc., was one of the 14 Enron affiliated companies that made bankruptcy filings Dec. 2.
Enron Freight Markets, owned by bankrupt Enron affiliate Enron Global Markets LLC, put the number of its creditors at between 200 and 999. Its largest unsecured creditors also hold trade claims, all except one of which are less than $1 million, according to the petition.

Sign up for Daily Newsletters

Copyright © 2019 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide