5 Largest Bankruptcies in American History

4. General Motors Corporation

Total assets of the company at the time of bankruptcy (in millions): $91,047

General Motors Company (NYSE:GM) is one of the biggest automakers in the world. In March 2009, General Motors Company (GM) had received over $17 billion in bailouts but was still unable to turn around its fortunes. This led to a bankruptcy declaration in June 2009, with General Motors Corporation being formed to handle bankruptcy while General Motors Company (GM) reorganized and received nearly $50 billion in investment from the government.