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Business of… the world’s biggest bankruptcies
The first ever bankruptcy of a UAE developer is underway with a deadline for claims of Friday. Kipp was inspired to look at some of the planet’s biggest insolvencies.
January 5, 2011 2:24 by shafeer
States automaker General Motors declared bankruptcy; the filing reported an incredible $172.81 billion in debt and just $82.29 billion in assets.
When they filed for bankruptcy GM had 244,500 people employed around the world and sold to and serviced 140 countries. Of course, GM has emerged from proceedings leaner and meaner – we guess some companies really are too big to fail.
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