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News > Companies
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Chapter 11 history
graphic December 3, 2001: 4:27 p.m. ET

A look at what history can teach shareholders about Enron's fate.
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NEW YORK (CNN/Money) - The Chapter 11 filing of Enron Corp., with $62.8 billion in assets, is the biggest bankruptcy filing of its kind in U.S. history.

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Under Chapter 11 of the U.S. Bankruptcy Code, there is an implied hope that a company can reorganize, obtain additional capital and return to financial health. There have been cases in which companies have emerged stronger from bankruptcy court protection, a good example being Texaco. The second biggest Chapter 11 filing by Texaco Inc. in 1987 led to one of the greatest corporate comebacks.

CNNfn's Amanda Lang takes a closer look at Chapter 11 history. graphic




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