In a terse statement alluding to the Enron Corp. fiasco, TD Bank indicates that it does not have material exposure to the energy sector.

TD said, “In response to inquiries from investors and analysts related to recent reported developments in the energy sector, TD confirmed that, in the context of these events and any further possible deterioration related to them, TD’s net exposure is not material.”

News of the derailment of Dynergy Inc.’s plans to buy out troubled Enron has raised the prospect of Enron filing for the biggest bankruptcy reorganization in history. It would be one of the most complex bankruptcy cases ever and could have widespread consequences for hundreds of companies.

This would see the largest U.S. energy trader liquidate billions worth of assets to pay off creditors. In any bankruptcy proceeding, secured creditors would be paid off before others. Analysts and investors are trying to figure out which banks have exposure to the firm.

Enron shares are now in the 60¢ range from a high of US$85 in the last 12 months.