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Largest US bankruptcies

Published on Tue, Nov 03, 2009 at 14:07 |  Source : Reuters

Updated at Wed, Nov 04, 2009 at 12:01  

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Largest US bankruptcies

By Jonathan Stempel and Anupreeta Das

CIT Group Inc, a major lender to small and mid-sized U.S. businesses, on Sunday filed for Chapter 11 bankruptcy protection.

The company had assets of USD 71 billion and total debt of USD 65 billion as of June 30, according to its petition filed in the US bankruptcy court for the Southern District of New York.

The following is a list of large US bankruptcies since 1980, according to court records and the website BankruptcyData.com:

COMPANY

YEAR

TOTAL ASSETS

Lehman Brothers Holdings Inc

2008

$639,000,000,000*

WorldCom Inc

2002

$103,914,000,000

General Motors Corp

2009

$91,047,000,000

CIT Group Inc

2009

$71,019,000,000

Enron Corp

2001

$65,503,000,000

Conseco Inc

2002

$61,392,000,000

Chrysler LLC

2009

$39,300,000,000

Pacific Gas and Electric Co

2001

$36,152,000,000

Texaco Inc

1987

$34,940,000,000

Financial Corp of America

1988

$33,864,000,000

Refco Inc

2005

$33,333,000,000

Washington Mutual Inc

2008

$32,900,000,000 *

IndyMac Bancorp Inc

2008

$32,734,000,000

Global Crossing Ltd

2002

$30,185,000,000

Bank of New England Corp

1991

$29,773,000,000

General Growth Properties Inc

2009

$29,560,000,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* - from court documents

  

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Tags: US bankruptcies, bankruptcies, Lehman Brothers Holdings Inc, WorldCom Inc, General Motors Corp, CIT Group Inc, Enron Corp, Conseco Inc, Chrysler LLC, Pacific Gas and Electric Co, Texaco Inc, Financial Corp of America, Refco Inc, Washington Mutual Inc, IndyMac Bancorp Inc, Global Crossing Ltd, Bank of New England Corp, General Growth Properties Inc
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