MF Global: Likely Among the 10 Biggest Bankruptcies Ever - victim of bad bets on European government debt -

MF Global: Likely Among the 10 Biggest Bankruptcies Ever - victim of bad bets on European government debt - 


MF Global, the brokerage run by former Goldman Sachs chief Jon Corzine, today filed for bankruptcy protection, becoming one of the highest-profile U.S. victims of bad bets on European government debt.


With the Chapter 11 filing, MF Global also is likely to be added to the ignominious list of the 10 largest bankruptcies in U.S. corporate history. Here is that list, according to research firm BankruptcyData.com, and based on the value of each company’s assets before its bankruptcy filing.


Based on MF Global’s disclosed assets in its bankruptcy filing, it is likely to slot in just ahead of Chrysler as the eighth-largest U.S. bankruptcy.


1) Lehman Brothers Holdings, September 2008: $691 billion in assets


2) Washington Mutual, September 2008: $327.9 billion


3) WorldCom, July 2002: $103.9 billion


4) General Motors, June 2009: $91 billion


5) CIT Group, November 2009: $80.4 billion


6) Enron, 2001: $65.5 billion


7) Conseco, 2002: $61.4 billion


MF Global: $41 billion (as of Sept. 30)


8) Chrysler April, 2009: $39.3 billion


9) Thornburg Mortgage May, 2009: $36.5 billion


10) Pacific Gas & Electric Co., 2001: $36.15 billion


Read more - 
http://blogs.wsj.com/deals/2011/10/31/mf-global-likely-among-the-10-biggest-bankruptcies-ever/