Top Corporate Bankruptcies
September 16, 2008
The collapse of Lehman Brothers didn’t just shake up Wall Street: It also made American corporate history. The company’s bankruptcy filing is the largest ever in the U.S. based on total assets before the filing.
Here’s a list of the biggest bankruptcy filings in American business:
1. Lehman Brothers Holdings Inc., Sept. 15, 2008: $639 billion
2. Worldcom Inc., July 21, 2002: $103.91 billion
3. Enron Corp., Dec. 2, 2001: $63.39 billion*
4. Conseco Inc., Dec. 18, 2002: $61.39 billion
5. Texaco Inc., April 12, 1987: $35.89 billion
6. Financial Corp. of America, Sept. 9, 1988: $33.86 billion
7. Refco Inc., Oct. 17, 2005: $33.33 billion
8. Global Crossing Ltd., Jan. 28, 2002: $30.19 billion
9. Pacific Gas and Electric Co., April 6, 2001: $29.77 billion
10. UAL Corp., Dec. 9, 2002: $25.2 billion
11. Delta Air Lines Inc., Sept. 14, 2005: $21.8 billion
12. Adelphia Communications, June 25, 2002: $21.5 billion
13. Mcorp, March 31, 1989: $20.23 billion
14. Mirant Corp., July 14, 2003: $19.42 billion
15. Delphi Corp., Oct. 8, 2005: $16.59 billion
* Enron assets were taken from its quarterly Securities and Exchange Commission filing on Nov. 19, 2001; the company announced that the financials were under review at the time of filing for Chapter 11.
Sources: New Generation Research, Inc., AP Research, CNBC.com.
Related lists:
- Biggest Corporate Bailouts
- Biggest U.S. Bank Failures
- Cities With Least Personal Debt
- Cities With Most Personal Debt
2 responses so far ↓
1 Nothing Is Too Good For Taxpayer Money; Not Even Foreign Investors « American Citizens News Network // Nov 9, 2008 at 6:27 am
[...] list is also long for failed banks, which cost us billions. Then to add insult to injury there are companies that have declared bankruptcy, mostly due to greed which, although not a bailout, cost the public extremely large sums of money. [...]
2 What Kurt Warner can teach your business « // Jan 30, 2009 at 9:49 am
[...] also can choose when they find themselves in a recession or slump. They can fold up shop or they can persevere. Those that persevere find that they run smarter and stronger once the next [...]
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