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Court OK's Enron financing
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December 3, 2001: 7:54 p.m. ET
Judge approves $1.5B financing plan submitted by battered energy trading group.
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NEW YORK (CNN/Money) - A New York bankruptcy judge approved a $1.5 billion debtor-in-possession financing plan submitted by energy trading company Enron Corp.
And CNNfn has confirmed that J.P. Morgan Chase and Citigroup were providing the financing for the beleaguered energy trading group.
Enron capped a dramatic fall from the heights of the energy world on Sunday, filing the biggest U.S. Chapter 11 bankruptcy reorganization case in history. It listed assets of $49.8 billion, easily dwarfing the $35.9 billion held by Texaco at the time of its 1987 bankruptcy.
Employees said Enron's massive computer network was being shut off, floor by floor, as they were told to leave for the day. Workers packed up their belongings and walked out of Enron's twin silver towers into a gray, typically humid Houston afternoon -- and a uncertain future.
The buzz of Enron's take-on-the-world pulse so characteristic at its peak was gone, replaced by the somber murmur of colleagues saying goodbye and trading information. Some talked on cell phones to loved ones, some snapped pictures outside by the Enron logo and others just milled about.
Loyalty, always a strong trait of Enron's corporate culture, remained even in light of the ugly collapse.
-- from staff and wire reports 
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