Top ten largest bankruptcy scandals in the US

Top ten largest bankruptcy scandals in the US

Top ten largest bankruptcy scandals in the US

The world’s financial crisis struck first in the United States, increasing the number of bankruptcy filings. Top ten bankrupt companies depending on the assets value are:

1. Lehman Brothers Holdings $691 billion in assets on 15th September 2008;

2. Washing Mutual with $327.9 billion in assets on 26th September 2008;

3. WorldCom worth $103.9 billion in assets on 21st July 2002;

4. General Motors with $91 billion in assets on 1st June 2009;

5. Enron with $65.5 billion in assets on 2nd February 2001;

6. Conseco on with $61 billion in assets 17th December 2002;

7. Chrysler with $39 billion in assets on 30th April 2009;

8. Thornburg Mortgage worth $36.5 billion in assets on 1st January 2009;

9. Pacific Gas and Electric Co. with $36 billion in assets on 6th April 2001;

10. Texaco with $34.9 Billion in Assets on 12 April 1987.

As you can see for yourself five of these major bankruptcy situations happened after the world’s financial crisis was triggered. The companies from this top worth more than $1,400 billion, this amount  representing 10 % of the 2009 United States gross domestic product (GDP). The crisis is not over and we might see other sonorous bankruptcies.

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