Top 10 Largest Bankruptcies of All Time
Any major and globally-established company filing or declaring their bankruptcy status is a major blow to its owners, employees and the world’s economy. History has witnessed some of the world’s top-most organizations falling into the deep pit of insolvency and getting crushed with debts and arrears.
The recent downfall of Seán Quinn, holder of the Quinn group and one of the richest Irish tycoons, was credited as one of the Biggest Personal Bankruptcies in the whole world, and left him with an approx. of 2 billion Euros ($2.2 billion) in debt after declaring bankruptcy in 2011.
Whether a poor investment, a financial fraud or scandal, bankruptcies create a massive havoc amongst the market and the economy. So, here presenting is an entailed list of Top 10 Largest Bankruptcies in History, with some of the most disastrous insolvency cases you would have ever seen and their after-effects still ruling the market.