HOUSE OF REPRESENTATIVES

H.C.R. NO.

129

TWENTY-FIRST LEGISLATURE, 2002

 

STATE OF HAWAII

 
   


HOUSE CONCURRENT

RESOLUTION

 

requesting that hawaii's congressional delegation support a full investigation by congress into all matters surrounding the collapse of the enron corporation.

 

 

WHEREAS, the Enron Corporation (Enron) was formerly the seventh largest corporation in the United States and was regarded as one of the nation's pre-eminent and most successful companies; and

WHEREAS, numerous allegations of fiscal impropriety and malfeasance have been made against the executives and board of directors of Enron; and

WHEREAS, Enron filed for protection from its creditors under chapter 11 in the largest corporate bankruptcy in U.S. history; and

WHEREAS, the bankruptcy of Enron cost its employees, creditors, and investors millions of dollars in losses; and

WHEREAS, Hawaii's Employees' Retirement System has invested in Enron and suffered an $11,300,000 loss because of the corporation's collapse; now, therefore,

BE IT RESOLVED by the House of Representatives of the Twenty-first Legislature of the State of Hawaii, Regular Session of 2002, the Senate concurring, that Hawaii's congressional delegation is requested to support a full investigation by Congress into all matters surrounding the collapse of Enron; and

BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to each member of Hawaii's congressional delegation.

 

 

OFFERED BY:

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Report Title:

Calls for congressional investigation into collapse of Enron.