Watch top 10 banks that become bankruptcies they become hero to zero. Here some list.

1. TOP 10 LARGEST BANKRUPTCIES IN HISTORY

2. 1. Lehman Brothers Bankruptcy
Assets: $691
BillionBankruptcy Date: 09/15/2008

3. Lehman Brothers Holdings Inc. filing for bankruptcy was considered to be
the Largest Bankruptcy in History with an over estimated cost of $691
Billion for insolvency. Known as a week of great panic of 2008 on the Wall
Street, there was a massive low-down into the shares and debentures
with the declaration of insolvency with the U.S. Bankruptcy Court,
Southern District of New York (Manhattan) by Lehman Brothers Holdings
Inc. The company was a universally-renowned financial-services venture
and participated in several commercial activities in asset banking, equity
and fixed-income sales, research and exchange, investment supervision,
reserved equity and banking. It was an established chief merchant in the
U.S. Treasury securities market.

4. 2. Washington Mutual Bankruptcy
$327.9 BillionBankruptcy Date: 09/26/2008

5. On September 26, 2008, Washington Mutual Inc. with its lasting
subordinate, WMI Investment Corp, finally declared for Chapter 11
bankruptcy, and subsequently was delisted from commencing trades on
the New York Stock Exchange. All the remaining assets and liabilities were
headed by JPMorgan Chase. With the continuing fall of Washington
Mutual Inc. an assurance was passed for Washington Mutual account
holders regarding their banking.

6. 3. WorldCom Bankruptcy
Bankruptcy Date: 07/21/2002
Assets: $103.9 Billion

7. Entitled as the second biggest long-distance communications provider in all of
US, WorldCom was established in 1963, and saw successful heights in the
realm of commercial industry before filing for bankruptcy in 2002. Considered
as one of the Largest Bankruptcies in the World, it was regarded as one of the
world’s largest and bewildered corporate crimes in history with fraud and
criminal charges being put up against the executives. Bernard Ebbers, founder
and former CEO, was allotted a 25-year sentence in prison, while Scott
Sullivan, former CFO, was sentenced to a 5-year jail term as he appealed guilty
and attested against Ebbers.

8. 4. General Motors Bankruptcy
Bankruptcy Date: 06/01/2009
Assets: $91 Billion

9. General Motors Company (GM for short) is a well-known United States based
automaker with its foundation laid in Detroit, Michigan. According to the
revenues, GM was considered as the largest automaker in all of US and was
ranked as the second in the year 2008. With an outstanding employment rate
and flourishing business graphs, the company was accorded the appreciation as
the third-largest 2008 universal profits renderings on the Fortune Global 500.
With the following success stories, filing for Chapter 11 Bankruptcy protection
within the grounds of Manhattan New York Federal bankruptcy court on June 1,
2009 came as a major shock to the world. An estimate of US$82.29 billion in
assets and US$172.81 billion in debt was reported to be filed under the
insolvency section.

10. 5. CIT Bankruptcy
Bankruptcy Date: 11/01/2009 Assets: $71 Billion

11. CIT Group Inc. was unveiled as a multi-functioning American
commercial and consumer finance company in 1908, and was a
cheering name within the list of Fortune 500. The company leadingly
contributed their fair share into several commercial processes such as
vendor funding, factoring, equipment and conveyance sponsoring,
Small Business Administration loans, and asset-based lending. After
the demolition of Lehman Brothers, the company dried up easy and
high, and soon, filed for bankruptcy in Chapter 11 in 2009.

12. 6. Enron Bankruptcy
Bankruptcy Date: 12/02/2001
Assets: $65.5 Billion

13. Under the List of Bankruptcies in USA arises the name Enron Corporation
(earlier NYSE ticker icon ENE), an internationally acclaimed America-based
energy resources company centred in Houston, Texas. The organization saw
some good times, employed at least 22,000 job seekers and was claimed one of
the world’s biggest electricity, natural gas, pulp and paper, and communications
companies before dissolving with bankruptcy in the year 2001. It was titled as
“America’s Most Innovative Company” for 6 consecutive years by Fortune. With
the uprising of Enron scandal in October 2001 coming out in media, the
company filed for bankruptcy with a huge estimate of $65.5 Billion in the pot.
Apart from that, this event led to the fierce insolvency of one of the prevalent
audit and accountancy firms in the world, Arthur Andersen.

14. 7. Conseco Bankruptcy
Bankruptcy Date: 12/17/2002 Assets: $61 Billion

15. Established in the suburbs of Carmel, Indiana, Conseco Inc. is a
reputed publicly traded holding company, and deals in insurance and
customer investment operations via a number of secondary
corporations while managing a separate identity. Conseco Inc. with
some of the other supplementary companies such as CIHC Inc. and
Conseco Finance Corp filed for t5he case under Chapter 11 insolvency
fortification in the U.S. Bankruptcy Court in Chicago. The company saw
a great insolvent disaster with a huge debt and the assets worth $61
Billion were dissolved shortly after in 2002.

16. 8. Pacific Gas and Electric Co. Bankruptcy
Bankruptcy Date: 04/06/2001 Assets: $36.1 Billion

17. Pacific Gas and Electric Co. was encountered in 1905, headquartered in
San Francisco and dealt with supplying a generous amount of natural
gas and electricity directed towards the most areas residing near
Northern California. Initially doing well and being all inventory-
equipped, the company started experiencing the downfall after it sold
off its natural gas power plants, and as a result, the breeding capacity
lowered. With the dealings with other companies while selling the gas
resources at a fixed price brought them to a darker place, they faced a
major risk of bankruptcy in 2001 with proclaimed asset dissolution of
$36.1 Billion. But, in 2004, it emerged from the dark sight and
established itself as one of the most lucrative businesses for 2005 on
the Fortune 500 list.

18. 9. Texaco Bankruptcy
Bankruptcy Date: 04/12/1987 Assets: $34.9 Billion

19. Following the discovery of oil at Spindletop, Texaco was
incorporated as Texas Fuel Company in 1901 by the innovators
named Joseph S. Cullinan, Thomas J. Donoghue, Walter Benona
Sharp, and Arnold Schlaet, and is headquartered at Beaumont,
Texas. Until the decision of the Texas Court of Appeals passed in
February 1987, Texaco was the only organization who
manufactured gasoline in all 50 states, and soon was undertaken
by Chevron Corporation in 2001 respectively. With a protest to
protect the company’s assets, it filed under United States
Bankruptcy Code’s Chapter 11. This was considered a big
commercial blow and one of the Largest Bankruptcies of All
Time.

20. 10. Financial Corp. of America Bankruptcy
Bankruptcy Date: 09/09/1988 Assets: $33.8 Billion

21. The Financial Corporation, being the former holding organization for the
American Savings and Loan Association, trailed for bankruptcy reigning
under Chapter 11 of the United States Bankruptcy Code on Sept. 9,
1988, and was settled as a part of liquidation in February 1989. The total
estimated assets that drowned were up to $33.8 Billion and Robert M.
Bass Group of Fort Worth shot over $350 million, taking over the
company as a liberated part of a Chapter 11 filing.

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