BankruptcyData Ranks Top 2012 Bankruptcy Filings
BankruptcyData.com’s research reveals that a total of 86 publicly-traded companies filed for bankruptcy protection in 2012 with a total of $70.8 billion in combined pre-petition assets. This filing count is the exact same figure seen in 2011, which had $104 billion in total assets.
The average pre-petition asset figure of bankrupt companies in 2012 fell slightly to $824 million – compared to $1.2 billion in 2011. When ranked by total assets, the largest filing of 2012 was, by a significant margin, Residential Capital’s $15.7 billion bankruptcy, followed by Edison Mission Energy with $8.3 billion in assets and Eastman Kodak Company’s $6.2 billion filing.
The Ten Largest Bankruptcies of 2012 (Ranked by Assets) are (listed by company, bankruptcy date, business description and assets in millions):
The same three companies top the 2012 list when sorted by pre-petition liabilities; however, the second and third place ordering reversed: Residential Capital, $15.3 billion in liabilities; Eastman Kodak Company, $7.3 billion in liabilities and Edison Mission Energy, $6.7 billion in liabilities.
When this year’s corporate bankruptcies are sorted by pre-bankruptcy revenue figures, the gold, silver and bronze go to the following petitioners: Eastman Kodak Company, $7.2 billion in revenue; Hawker Beechcraft Acquisition Company, LLC, $2.4 billion in revenue and Patriot Coal Corporation, $2.4 billion in revenue.
To read the BankruptcyData’s press release in its entirety, click here.