10 largest bankruptcies in the history of the USA

Probably, all of you heard that procedure of bankruptcy of the legendary American company of General Motors now begins. Journal Fortune in this connection has constituted the list of 10 largest bankruptcies in the history of the American business. It has seemed to us interesting enough therefore it is resulted it on pages of our journal.

10) Texaco (bankruptcy Date: 04.12.87, assets: $34,9 billion)

Company Texaco has become bankrupt in 1987. At that point in time its assets constituted almost 35 billion dollars. Problems at the petroleum giant have come after a number of unsuccessful bargains on merge. And in 1987 the decision to make an application on bankruptcy was accepted. In 2001 Chevron has acquired the company new formed after bankruptcy for 39 billion dollars.

9) Pacific Gas and Electric Co. (Bankruptcy Date: 04.06.2001 asset: $36 billion)

Crisis of 2000-2001 has led to a decontrol of the power market in California. All it has led to serious problems in company Pacific Gas and Electric Co which has not managed to worry the burden which has fallen down it. In April, 2001 the company has filed application on bankruptcy. Today Pacific Gas and Electric Co continues the work, ensuring to energy of 15 million clients.

Thornburg Mortgage (bankruptcy Date: 05.01.2009 assets: $36,5 billion)

Company Thornburg Mortgage possessed in Santa Fe represented a trust focused on investment in real property. Hypothecary crisis has seriously struck on Thornburg Mortgage, having kept all hopes of iridescent existence of the company. Some time holders Thornburg Mortgage still had hope that the company will manage to remain afloat. But it was short. Already on April, 1st a current year the company declared the bankruptcy.

7) Chrysler (bankruptcy Date: 04.30.2009 assets: $39 billion)

Bankruptcy Chrysler … it discussed more recently. Now the company the alliance with the Italian motor-car manufacturer Fiat waits. As the state did not help the company, all the same this help has not rescued it from bankruptcy. It is thus interesting that in due course Chrysler already was on the verge of bankruptcy. It has occurred in far 1979. Then the companies hardly managed to be avoided a current fate. 1,5 billion dollars of the credit from the government of the USA have rescued it. All money has been given in 1983. Alas, today the situation has not repeated.

6) Conseco (bankruptcy Date: 12.17.2002 assets: $61 billion dollars)

It is a lot of years of a maladministration, problems with the finance and other have led to that finance company Conseco has made an application on bankruptcy. It has occurred on December, 17th, 2002. At that point in time company assets constituted whole 61 billion dollars.

5) Enron (bankruptcy Date: 12.02.2001 assets: $65,5 billion)

About scandal with company Enron, most likely, heard all. It was the huge unexpectedness for corporate America. One of the largest companies in the world, attending to natural gas and the electric power has appeared in a difficult situation. Business concerning the company lasted three years. Only in 2004 it has been recognised by the bankrupt. As a result of Enron has been liquidated.

4) General Motors (bankruptcy Date: 6.01.2009, assets: $91 billion dollars)

Actually, because of this company review Fortune also has been made. About possible bankruptcy of an icon of motor industry spoke for a long time. And here, it has really occurred. The company has got into debt to the creditors in general 172 billion dollars. GM serious changes in this connection bankruptcy definitely wait. To the government of the USA 72,5 % in a new merged company will leave approximately. Possibly, then this share will it is transmitted to private hands.

3) WorldCom (bankruptcy Date: 07.21.2002, assets: $103,9 billion dollars)

Company WorldCom was no time very much a prosperous business in the USA. But during one unpleasant moment of a problem have attacked it from different directions. Its bankruptcy was dark enough business as the former general director Berni Ebbersa even have sentenced to 25 years of imprisonment for swindle. And after all once it was the present giant in the teleclod market.

2) Washington Mutual (bankruptcy Date: 09.26.2008, assets: $327,9 billion)

This bank in many respects became a victim of a current economic crisis. As a result bankruptcy which has occurred in September, 2008, just during a crisis heat. Bank assets at that point in time constituted more than 327 billion dollars! Ponder upon this sum!

1) Lehman Brothers (bankruptcy Date: 09.15.2008, assets: $691 billion)

At last, the largest bankruptcy in the history of the USA is the crash of investment house Lehman Brothers which has shaken the public in September, 2008. Then it seemed that crisis will collect all. Lehman Brothers was the fourth on size investment firm on Wall Street. Well and about assets almost in 700 billion dollars will speak simply unduly.

On floor-mat Fortune.com

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