Belly-Up: Largest Bankruptcies in History

LARGEST BANKRUPTCIES IN HISTORY 20 $34.9B Last week, General Motors began the fourth largest bankruptcy proceedings in history, joining the many other large and venerable companies that have sunk to the bottom during this economic crisis. In fact, eight of the 20 largest bankruptcies have happened during the last two years of crisis. Here is a look at the biggest sinking ships in business history. Техасо $33.8B FCOA $29.7B 1987 Bank of New England 1988 1989 1990 1991 1992 1993 1994 1995 $103.9B 1996 WorldCom $691B Lehman Brothers $65.5B 1997 Enron $61.4B $36.1B 1998 Conseco Pacific Gas and Electric 1999 $30.1B $25.1B Global Crossing $327.9B UAL 2000 Washington Mutual 2001 2002 $33.3B $27.2B Refco 2003 Calpine 2004 $91B $26.1B General Motors Corporation 2005 New Century Financial Corporation $32.7B 2006 IndyMac $39.3B $29.6B $36.5B General Growth Properties $27.4B 2007 Chrysler Thornburg Mortgage Lyondell Chemical Company 2008 2009 BOAT TO PRE-BANKRUPTCY ASSETS (in billions) SECTOR PRE-BANKRUPTCY ASSETS (in billions) / Company Finance $XXX Energy Air Travel Real Estate Xxxxxxxxx Automotive Chemicals Telecommunications $25 - $28 $29 - $60 $61 - $65 $91 - $104 $105 - $327 $328 - $691 SOURCE BankruptcyData.com 10