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Largest Bankruptcies In History
1.Lehman Brothers Holdings
Date Of Bankruptcy Filing:09/15/08
Assets: $691 billion
In 2008 Lehman Brothers Holdings filed for chapter 11 bankruptcy. At one time, they were the fourth largest investment firm on Wall Street with 25,000 employees. Lehman Brothers Holdings was the largest corporation to file for bankruptcy in U.S. history. On March 6, 2012 Lehman Brothers emerged from bankruptcy as a liquidating company with goals in the coming years to pay back its creditors and investors. In negotiations Lehman Brothers Holdings agreed to pay back creditors depending on their type of debt. Creditors received approximately 21 cents to 28 cents on the dollar. Creditors had asserted more than $300 billion in claims.
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