Largest U.S. bankruptcies

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

[Source: Reuters, London, 31Oct11]

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