Largest Bankruptcies
The largest bankruptcy in U.S. history occurred on September 15, 2008, when Lehman Brothers Holdings Inc. filed for Chapter 11 protection with more than USD$639 billion in assets.
The 20 largest corporate bankruptcies are as follows:
| Company | Bankruptcy Date | Total Assets Pre-Bankruptcy | Description |
|---|---|---|---|
| Lehman Brothers Holdings, Inc. | 9/15/2008 | $691,063,000,000 | Investment Bank |
| Washington Mutual | 9/26/2008 | $327,913,000,000 | Savings & Loan Holding Co. |
| Worldcom, Inc. | 7/21/2002 | $103,914,000,000 | Telecommunications |
| General Motors | 6/1/2009 | $82,290,000,000 | Manufactures & Sells Cars |
| CIT Group | 11/1/2009 | $71,000,000,000 | Banking Holding Company |
| Enron Corp. | 12/02/2001 | $65,503,000,000 | Energy Trading, Natural Gas |
| Conseco, Inc. | 12/17/2002 | $61,392,000,000 | Financial Services Holding Co. |
| MF Global | 11/08/2011 | $41,000,000,000 | Financial Derivatives Broker |
| Chrysler | 4/30/2009 | $39,300,000,000 | Manufactures & Sells Cars |
| Thornburg Mortgage | 5/01/2009 | $36,521,000,000 | Residential Mortgage Lending Company |
| Pacific Gas and Electric Co. | 4/06/2001 | $36,152,000,000 | Electricity & Natural Gas |
| Texaco | 4/12/1987 | $34,940,000,000 | Petroleum & Petrochemicals |
| Financial Corp of America | 9/09/1988 | $33,864,000,000 | Financial Services & Savings and Loans |
| Refco | 10/17/2005 | $33,333,000,000 | Brokerage Services |
| IndyMac Bancorp | 7/31/2008 | $32,734,000,000 | Bank Holding Company |
| Global Crossing | 1/28/2002 | $30,185,000,000 | Global telecommunications Carrier |
| Bank of New England | 1/07/1991 | $29,773,000,000 | Interstate Bank Holding Company |
| General Growth Properties | 4/16/2009 | $29,557,000,000 | Real Estate Investment Company |
| Lyondell Chemical | 1/06/2009 | $27,392,000,000 | Global Manufacturer of Chemicals |
| Calpine | 12/20/2005 | $27,216,000,000 | Integrated Power Company |
Read more about this topic: Bankruptcy In The United States
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