2011 Recap: Healthcare, Medical/Telecom Bankruptcies Dominate



According to BankruptcyData.com, a total of 82 publicly traded companies filed for bankruptcy protection under Chapter 7 and Chapter 11 (through December 28, 2011), listing $104.2 billion in combined pre-petition assets. This figure compares to the year-end 2010 filing total of 106 bankruptcies and $89.1 billion in assets.

The largest filing of the year was, by a significant margin, MF Global Holdings’s $41 billion bankruptcy, followed by AMR Corporation (American Airlines) – 25 billion in assets – and Dynegy Holdings – with $10 billion in assets.

To see the full list of the 20 Largest Chapter 7 and Chapter 11 Bankruptcies of 2011 (through 12/28/11), click here.

Commodities and derivatives’ broker MF Global Holdings Ltd. is the only 2011 filing, thus far, to make BankruptcyData.com’s list of 20 largest bankruptcies of all time.

To read BankruptcyData.com’s list of the 20 Largest All Time Chapter 7 and Chapter 11 Bankruptcies, click here.

Through December 28, 2011 has seen a total of just four banking and finance industry bankruptcies: MF Global Holdings Ltd.; Integra Bank Corporation; Desert Capital Reit, Inc. and First State Bancorporation. This represents a significant decrease from 2010’s total of 20 public Chapter 7 and Chapter 11 filings from the banking and finance sector. The healthcare and medical and telecommunications industries reported the highest number of bankruptcy filings in 2011, with respective totals of 11 and 9. Like banking and finance, the following sectors also reported four bankruptcies each: entertainment; food, beverage and tobacco; manufacturing; oil and gas; restaurant and retail.

BankruptcyData.com defines publicly traded as those companies with common stock and/or bonds that are publicly traded on U.S. markets. All figures are pre-petition and taken from each debtor’s most recent Annual Report filed with the SEC.

BankruptcyData.com, a division of New Generation Research, Inc., provide news, retention data, financial history, creditor information, reorganization plan summaries and more for publicly traded companies that have filed for bankruptcy protection since 1980.


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