Column chart showing top 20 bankruptcy filings for period January to May 2009. Total asset value reaches 217,645 million US$. Top five by asset value are Chrysler LLC, on 2009-04-30, Car maker, assets valued at 39,300 million US$. Thornburg Mortgage, Inc. , on 2009-05-01, Residential Mortgage Lending Company , 36,521. General Growth Properties, Inc. on 2009-04-16, Real Estate Investment Company , 29,557. Lyondell Chemical Co on 2009-01-06, Global Manufacturer of Chemicals , 27,392. BankUnited Financial Corp on 2009-05-21, Bank Holding Company, 15,046.

2009 public corporation bankruptcies do not detract from the 2008 performance. From January to May, the sum of assets of the top 20 bankruptcy filings ascends to 218 billion US$, which compares with the equivalent value (236 billion in constant dollars of 2008) for the whole of 2001, at the time of the internet bubble burst. The presence of car makers, chemical manufacturers, publishers and financial services companies related to real estate business betrays the multi-faceted economy crisis triggered by the subprime collapse.

 

Largest Public Company Bankruptcy Filings
2009 January to May

Company

Bankruptcy Date

Business

Pre-Petition Assets
(million US$)

Lyondell Chemical Co2009-01-06Global Manufacturer of Chemicals27,392
Silver State Bancorp2009-01-06Bank Holding Company1,764
Nortel Networks, Inc.2009-01-14Supplies Networking Products & Solutions9,000
Smurfit-Stone Container Corp2009-01-26Mfgs. Paperboard & Paper-Based Packaging7,387
Spectrum Brands, Inc.2009-02-03Consumer Products Co.2,247
Aleris International, Inc.2009-02-12Produces Aluminum Products5,120
Trump Entertainment Resorts, Inc.2009-02-17Gaming Company2,231
BearingPoint, Inc.2009-02-18Provides Mgmt. & Technology Consulting Svcs.1,981
Spansion Inc.2009-03-01Semiconductor Device Company3,815
Masonite Corp2009-03-16Door Manufacturer2,660
Chemtura Corp2009-03-18Specialty Chemical Company3,064
Charter Communications, Inc.2009-03-27Operates Broadband Communications13,882
Idearc Inc.2009-03-31Provides Yellow & White Pages Directories1,815
General Growth Properties, Inc.2009-04-16Real Estate Investment Company29,557
AbitibiBowater Inc.2009-04-16Producers of Newsprint10,319
Source Interlink Companies, Inc.2009-04-27Marketing & Publishing of Entertainment Products2,436
Chrysler LLC2009-04-30Manufactures & Sells Cars39,300
Thornburg Mortgage, Inc.2009-05-01Residential Mortgage Lending Company36,521
Capital Corp of the West2009-05-11Bank Holding Company2,108
BankUnited Financial Corp2009-05-21Bank Holding Company15,046

Total assets value

217,645

 

Source: see BankruptcyData

 

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