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
2001
$66 billion in pre-filing assets
The high-flying energy company made billions trading esoteric derivatives until insiders blew the whistle on Enron's massive accounting fraud — prompting a bankruptcy filing that rocked the U.S. financial world. The company was instantly devalued and thousands of employees were laid off, their pensions evaporated. Executives Kenneth Lay and Jeffrey Skilling were both convicted of fraud and other charges, although Lay died before being sentenced.
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