The Biggest Bankruptcies in U.S. History

Published October 31, 2011

| Reuters

MF Global Holdings Ltd, a futures brokerage run by former Goldman Sachs chief Jon Corzine, filed for Chapter 11 bankruptcy protection on Monday after a tentative agreement to sell some assets fell apart.

The company had assets of $41.05 billion and debt of $39.68 billion as of September 30, according to its petition filed in the U.S. Bankruptcy Court for the Southern District of New York.

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

COMPANY/YEAR TOTAL ASSETS

Lehman Brothers Holdings Inc (2008) $639.00 billion *

WorldCom Inc (2002) 103.91 billion

General Motors Corp (2009) 91.05 billion

CIT Group Inc (2009) 80.45 billion

Enron Corp (2001) 65.50 billion

Conseco Inc (2002) 61.39 billion

MF Global Holdings Ltd (2011) 41.05 billion *

Chrysler LLC (2009) 39.30 billion

Thornburg Mortgage Inc (2009) 36.52 billion

Pacific Gas and Electric Co (2001) 36.15 billion

Texaco Inc (1987) 34.94 billion

Financial Corp of America (1988) 33.86 billion

Refco Inc (2005) 33.33 billion

Washington Mutual Inc (2008) 32.90 billion *

IndyMac Bancorp Inc (2008) 32.73 billion

* - from court documents

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