Enron, one of the world's largest energy companies, with more than 900 staff on Teesside, is heading towards bankruptcy.
Administrators PriceWaterhouseCoopers have already been appointed to the European holding company of the Enron group.
However, the Teesside power station and the utilities and service business at the Wilton chemical complex are not included in the administration order.
Tony Lomas, joint administrator, said: "There is already very serious interest in Enron's metal business and negotiations are expected to lead to a successful deal in the near future."
Workers at the Teesside operations are still waiting to hear about their futures.
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