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Which famous actor declared bankruptcy in 2009: 59 Photos

15 Celebrities Who Filed For Bankruptcy

FAQs

Henry Ford filed for personal bankruptcy in 1901 after his first company failed. Milton Snavely Hershey (1857-1945), the founder of Hershey's chocolate, started four candy companies that failed and he filed bankruptcy before starting what is now Hershey's Foods Corp.
As of February 2024, the largest all-time bankruptcy in the United States remained Lehman Brothers. The New York-based investment bank had assets worth 691 billion U.S. dollars when it filed for bankruptcy on September 15, 2008.
So let's take a look at the biggest companies which failed to seize their advantage and had to end up declaring bankruptcy, starting with number 15:
  • Refco. ...
  • America Savings and Loan. ...
  • Texaco. ...
  • Pacific Gas and Electric Co. ( ...
  • Thornburg Mortgage. ...
  • Chrysler. ...
  • MF Global. ...
  • Enron Corp.
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a reorganization bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.
A brief review of the three main types of bankruptcy cases for individuals chapters 7, 11, and 13. The most common types of bankruptcy are chapter 7, which are liquidating bankruptcy, and chapter 13 cases, often used by individuals who want to catch up on past due mortgage or car loan payments and keep their assets.