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FACTBOX: Key bankruptcy data for General Motors and U.S.
NEW YORK (Reuters) - General Motors Corp and the U.S. government finalized plans for the battered company to reorganize, setting the stage for America's largest-ever industrial bankruptcy filing before markets open on Monday.
Heralding a new and uncertain era for the No. 1 U.S. automaker, GM will file for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court in the Southern District of New York before the start of trading, according to sources with direct knowledge of the preparations.
Government support for GM is expected to total up to $60 billion. Nearly half of that money has already been extended this year in emergency aid.
The following are key bankruptcy data about General Motors and about other large U.S. bankruptcies:
-- GENERAL MOTORS CORP
* The largest automotive industry bankruptcy ever.
* The eighth public company bankruptcy of 2009 with pre-petition assets of $10 billion or more.
* The 30th public company bankruptcy of 2009 with pre-petition assets of $1 billion or more.
* The 45th historic public company bankruptcy with pre-petition assets of $10 billion or more.
* The 99th public company bankruptcy of 2009.
* $343,954,505,904 is the total figure for 2009's combined pre-petition public company bankruptcy assets.
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) $691,063,000,000 WorldCom Inc (2002) 103,914,000,000 General Motors Corp (2009) 91,047,000,000 * Enron Corp (2001) 65,503,000,000 Conseco Inc (2002) 61,392,000,000 Chrysler LLC (2009) 39,300,000,000 Thornburg Mortgage Inc (2009) 36,521,000,000 Pacific Gas and Electric Co (2001) 36,152,000,000 Texaco Inc (1987) 34,940,000,000 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 General Growth Properties Inc (2009) 29,557,000,000 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 * - estimated **- from court documents
(Reporting by Christopher Kaufman, Patrick Fitzgibbons and Jonathan Stempel)
