13-7b.- Financial Distress and Bankruptcy

13-7b.- Financial Distress and Bankruptcy - Resolving...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
Ramesh Rao 1 FEx06 Resolving Financial Distress Insolvency Technical default Formal default Private avenues Legal avenues Liquidation Chapter 7 Reorganization Chapter 11
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Ramesh Rao 2 FEx06 4 TH Quarter 2002 Bankruptcy Filings (from ABI World) Total Filings: 395,129 Non-Business Filings: 385,629 Business Filings: 9,500 Chapter 7: 275,999 Chapter 11: 2,772
Background image of page 2
Ramesh Rao 3 FEx06 Largest Bankruptcies in 2002 COMPANY ASSETS Worldcom $103.9 Billion Enron $63.3 Billion Conseco $61.4 Billion Global Crossing $30.2 Billion UAL $25.2 Billion Adelphia $21.5 Billion K Mart $14.6 Billion Combined for top 6 $256.8 Billion
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Ramesh Rao 4 FEx06 Company Total Assets (click for more info) Pre-Bankruptcy Worldcom, Inc. 7/21/2002 $103,914,000,000 NY-S Enron Corp.* 12/2/2001 $63,392,000,000 NY-S Conseco, Inc. 12/18/2002 $61,392,000,000 IL-N Texaco, Inc. 4/12/1987 $35,892,000,000 NY-S Financial Corp. of America 9/9/1988 $33,864,000,000 CA-C Global Crossing Ltd. 1/28/2002 $30,185,000,000 NY-S UAL Corp. 12/9/2002 $25,197,000,000 IL-N Adelphia Communications 6/25/2002 $21,499,000,000 NY-S Pacific Gas and Electric Co. 4/6/2001 $21,470,000,000 CA-N MCorp 3/31/1989 $20,228,000,000 TX-S First Executive Corp. 5/13/1991 $15,193,000,000 CA-C Gibraltar Financial Corp. 2/8/1990 $15,011,000,000 CA-C Kmart Corp. 1/22/2002 $14,600,000,000 IL-N FINOVA Group, Inc., (The) 3/7/2001 $14,050,000,000 DE HomeFed Corp. 10/22/1992 $13,885,000,000
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/15/2010 for the course FIN 357 taught by Professor Hadaway during the Fall '06 term at University of Texas at Austin.

Page1 / 18

13-7b.- Financial Distress and Bankruptcy - Resolving...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online