FACTBOX-Largest U.S. bankruptcies
April 16 (Reuters) - General Growth Properties Inc (GGP.N),
the second-largest U.S. mall owner, filed for bankruptcy
protection on Thursday as the credit crisis claimed its biggest
real estate victim.
The company has assets of $29.56 billion and total debts of $27.29 billion, according to its bankruptcy petition. General Growth has warned since November that it may have to seek protection from its creditors because it was unable to refinance maturing mortgages. For related story click on [ID:nLG526072]
The following is a list of the largest U.S. bankruptcies since 1980, according to court records and the website BankruptcyData.com: COMPANY/YEAR TOTAL ASSETS Lehman Brothers Holdings Inc (2008) $639,000,000,000 * WorldCom Inc (2002) 103,914,000,000 Enron Corp (2001) 63,392,000,000 Conseco Inc (2002) 61,392,000,000 Texaco Inc (1987) 35,892,000,000 Financial Corp of America (1988) 33,864,000,000 Refco Inc (2005) 33,333,172,000 Washington Mutual Inc (2008) 32,900,000,000 * Global Crossing Ltd (2002) 30,185,000,000 Pacific Gas and Electric Co (2001) 29,770,000,000 General Growth Properties Inc (2009) 29,560,000,000 * Lyondell Chemical Co (2009) 27,392,000,000 UAL Corp (2002) 25,197,000,000 Delta Air Lines Inc (2005) 21,801,000,000 Adelphia Communications Corp (2002) 21,499,000,000 MCorp (1989) 20,228,000,000 Mirant Corp (2003) 19,415,000,000 Delphi Corp (2005) 16,593,000,000 * - from court documents (Reporting by Christopher Kaufman and Jonathan Stempel)
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