Asia-Pacific News

» more from Asia-Pacific News

Largest Bankruptcy Filings of 2011

The last four months of the year have seen a big jump in U.S. companies filing for bankruptcy protection. Among these filings was the largest of 2011, Jon Corzine's MF Global, in October.

In fact, four of the 10 largest bankruptcies of 2011 — which span across industries including aviation, telecommunications, energy and banking — were declared just last month.

According to ratings agencies Moody's and Standard & Poor's, the rising trend of corporate defaults is expected to continue into 2012, given global growth uncertainties, the debt crisis in Europe, and tightening funding conditions.

Because of sluggish demand, sectors like retail, media and entertainment and oil and gas are set to be the most vulnerable, according to a December report from Standard & Poor's.

We’ve ranked the top 10 bankruptcy filings of 2011, using data from banktruptcydata.com. The rankings are based on assets listed in each debtor’s last annual report (10-K) filed with the Securities and Exchange Commission before the bankruptcy filings.

Click ahead to see the largest U.S. bankruptcy filings.

By: Ansuya Harjani
Posted on Dec. 30, 2011

Photo: Getty Images