Jones Day Crunches The Numbers: The 10 Biggest Bankruptcies of 2009

bankruptcy sign 4x3

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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