Understand, though, Chapter 11 does not save Enron like it does, say a furniture concern or other physical retailer. Enron lives (and has died) on their credit rating. The movement to junk status for their bonds today sent them over the abyss, from which there is no return. No one wants to od multi-million dollar deals with someone who will not pay up.
The company my father works for (30-odd years, 3 years from retirement) is filing chapter 11. No higher up's seem concerned, so we figure it's likely to be business as usual. Does this just give protection from creditors?