Top 10 Bankruptcies
With an estimated $89 million in assets before it filed for Chapter 11, General Motors has become the U.S.'s fourth largest bankruptcy, joining the ranks of fallen corporate behemoths like WorldCom and Enron
2002
$104 billion in pre-filing assets
A month after an accounting scandal made headlines, the telecommunications company, once the second largest long-distance carrier in the U.S., filed for bankruptcy. Several WorldCom executives subsequently pleaded guilty to fraud charges, with CEO Bernard Ebbers sentenced to 25 years in prison. The company emerged from bankruptcy in 2004 as MCI Inc.
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