In January 2002 Mr Cooper was appointed acting chief executive and restructuring officer for Enron.

He is an accountant and managing partner of New York-based specialist corporate restructuring firm Zolfo Cooper.

Mr Cooper has only limited experience in the energy sector.

“I've seen companies in bankruptcy that don't have nearly as strong a position as this company. They were able to emerge successfully from bankruptcy, and I'm certain Enron will also,” Mr Copper said of the challenge facing him.