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Chapter 11 Bankruptcy Filing in Delaware
CNN's Katie Drexler looks at a chapter 11 bankruptcy filing from enron. One of the biggest takeaways is that no one has any idea where the money went, she says. "Never in my career have i seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," writes ex-Enron executive John MacIntosh. The company was forced to file for Chapter 11 protection last year after failing to pay its creditors.
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