NEW YORK, Nov 1 (Reuters) - CIT Group Inc, a major
lender to small and mid-sized U.S. businesses, on Sunday filed
for Chapter 11 bankruptcy protection.
The company had assets of $71 billion and total debt of $65 billion as of June 30, according to its petition filed in the U.S. bankruptcy court for the Southern District of New York.
The following is a list of large 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 General Motors Corp (2009) 91,047,000,000 CIT Group Inc (2009) 71,019,000,000 Enron Corp (2001) 65,503,000,000 Conseco Inc (2002) 61,392,000,000 Chrysler LLC (2009) 39,300,000,000 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) 33,333,000,000 Washington Mutual Inc (2008) 32,900,000,000 * IndyMac Bancorp Inc (2008) 32,734,000,000 Global Crossing Ltd (2002) 30,185,000,000 Bank of New England Corp (1991) 29,773,000,000 General Growth Properties Inc (2009) 29,560,000,000
* - from court documents
(Reporting by Jonathan Stempel and Anupreeta Das) Keywords: CIT BANKRUPTCIES/ (jon.stempel@thomsonreuters.com +1 646 223 6317; Reuters Messaging: jon.stempel.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The company had assets of $71 billion and total debt of $65 billion as of June 30, according to its petition filed in the U.S. bankruptcy court for the Southern District of New York.
The following is a list of large 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 General Motors Corp (2009) 91,047,000,000 CIT Group Inc (2009) 71,019,000,000 Enron Corp (2001) 65,503,000,000 Conseco Inc (2002) 61,392,000,000 Chrysler LLC (2009) 39,300,000,000 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) 33,333,000,000 Washington Mutual Inc (2008) 32,900,000,000 * IndyMac Bancorp Inc (2008) 32,734,000,000 Global Crossing Ltd (2002) 30,185,000,000 Bank of New England Corp (1991) 29,773,000,000 General Growth Properties Inc (2009) 29,560,000,000
* - from court documents
(Reporting by Jonathan Stempel and Anupreeta Das) Keywords: CIT BANKRUPTCIES/ (jon.stempel@thomsonreuters.com +1 646 223 6317; Reuters Messaging: jon.stempel.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.