Last year was a bang up year for bankruptcy attorneys.
In the shadow of Lehman’s implosion in 2008, the number of bankruptcy filings increased 38% in 2009 to 89,402 companies. Of those companies, 207 were public companies and 55 had more than $1 billion in assets.
Jones Day (which acted as debtor’s counsel for Chrysler LLC) published an extensive year in review of bankruptcy, which includes a rundown of the biggest public filings last year.
The top 10, according to assets at the time of filing:
1. General Motors, $91 billion
2. CIT Group, $80.4 billion
3. Chrysler, $39.3 billion
4. Thornburg Mortgage, $36.5 billion
5. General Growth Properties, $29.6 billion
6. Lyondell Chemica, $27.4 billion
7. Colonial BancGroup, $25.8 billion
8. Capmark Financial Group, $20.6 billion
9. Guaranty Financial Group, $16.8 billion
10. BankUnited Financial, $15 billion
Read the whole Jones Day report here.
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