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ENRNQ !!!!!!!!
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[QUOTE]Originally posted by Ric: [QB] Sorry about this one. No notice was given. Thats the bad thing about bankrupt companies. You just never know. +DJ Enron Creates Trusts To Benefit Former Equity Hldrs 11/18/2004 Dow Jones News Services (Copyright © 2004 Dow Jones & Company, Inc.) (MORE) Dow Jones Newswires 11-18-04 0730ET *DJ Enron Still Believes Recovery By Former Hldrs Unlikely (MORE) Dow Jones Newswires 11-18-04 0730ET *DJ Enron Files Its Final 8-K With SEC (MORE) Dow Jones Newswires 11-18-04 0733ET DJ Enron Creates Trusts To Benefit Former Equity Hldrs>ENRNQ WASHINGTON (Dow Jones)--Enron Corp. (ENRNQ) created two trusts for the benefit of former holders of its common and preferred stock that would provide recovery to those holders in the "very unlikely event" that there is anything left to distribute after it pays creditor claims, according to a regulatory filing with the Securities and Exchange Commission Thursday. The company, whose plan to emerge from bankruptcy protection became effective yesterday, said the Form 8-K regulatory filing would be its last as required under securities regulations because it no longer has common stock outstanding requiring registration. As a result of its reorganization, all the company's outstanding stock, including its common stock and its cumulative second preferred convertible stock was canceled with new shares being issued to two trusts referred to as the Common Equity Trust and the Preferred Equity Trust that were entered into on Wednesday, the filing said. "In the highly unlikely event that the value of the company's assets exceeds the amount of its allowed claims under the Chapter 11 Plan, the company will make distributions pursuant to the Chapter 11 Plan to the Common Equity Trust and the Preferred Equity Trust," the company said. Those trusts then would make distributions to the holders of their trust interests. Enron went bankrupt in December 2001 when revelations of hidden debt, inflated profits and accounting trickery shattered its facade of success. Thousands of workers lost their jobs, and investors and shareholders lost billions of dollars. -By Dan Lowrey, Dow Jones Newswires; 202-862-1345; dan.lowrey@dowjones.com (END) Dow Jones Newswires 11-18-04 0827ET [/QB][/QUOTE]
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