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Top 10 Public Company Filings, 2001
The following public companies, ranked by prepetition assets, were the largest companies to file for chapter 11 protection in 2001.
|
| Company |
Filing Date |
Industry |
Assets ($ bil.) |
Lead counsel for debtor |
Lead counsel for creditors |
| Enron |
12/3/2001 |
Energy management |
$63.40 |
Weil, Gotshal & Manges and Togut Segal & Segal |
Milbank, Tweed, Hadley & McCloy |
| Pacific Gas & Electric |
4/6/2001 |
Electricity production |
$21.50 |
Howard, Rice, Nemerovski, Canady, Falk & Rabkin |
Milbank, Tweed, Hadley & McCloy |
| FINOVA Group Inc. |
3/7/2001 |
Commercial financing |
$14.10 |
Richards, Layton & Finger and Gibson, Dunn & Crutcher |
Wachtell, Lipton, Rosen & Katz |
| Reliance Groups Holdings Inc. |
6/12/2001 |
Insurance |
$12.60 |
Debevoise & Plimpton |
Orrick, Herrington & Sutcliffe |
| Federal-Mogul Corp. |
10/1/2001 |
Automotive parts manufacturing |
$10.20 |
Pachulski, Stang, Ziehl, Young & Jones |
The Bayard Firm, and Sonnenschein Nath & Rosenthal |
| Comdisco |
7/16/2001 |
Global technology systems |
$8.80 |
Skadden, Arps, Slate, Meagher & Flom |
Latham & Watkins and Gardner, Carton & Douglas |
| ANC Rental Corp. |
11/13/2001 |
Automobile rentals |
$6.30 |
Fried, Frank, Harris, Shriver & Jacobson and Blank Rome Comisky & McCauley |
Wilmer, Cutler & Pickering |
| 360 Networks (USA) Inc. |
6/28/2001 |
Fiber optics communication |
$5.60 |
Willkie Farr & Gallagher |
Sidley Austin Brown & Wood |
| Winstar Communications Inc. |
4/18/2001 |
Telecommunications |
$5.00 |
Young Conaway Stargatt & Taylor |
Cadwalader, Wickersham & Taft and The Bayard Firm |
| PSInet Inc. |
5/31/2001 |
Internet access provider |
$4.50 |
Wilmer, Cutler & Pickering |
Wachtell, Lipton, Rosen & Katz |
| * (through December 28, 2001). |
|
Source: BankruptcyData.com |
|
Total Filings Under Chapters 7, 11, 13 |
| Total Filings |
Total Business Filings |
Total Nonbusiness Filings |
| 2001 (first three quarters) |
29,872 |
1,117,216 |
| 2000 |
35,472 |
1,217,972 |
| 1999 |
44,367 |
1,281,581 |
| 1998 |
44,367 |
1,398,182 |
| 1997 |
54,027 |
1,350,118 |
| 1996 |
53,549 |
1,124,006 |
| 1995 |
51,959 |
874,642 |
| Source: BankruptcyData.com |
|
Public Firms Filing Under Chapter 11 |
| Year |
Annual Total |
Prepetition Assets ($ bil.) |
| 2001* |
251 |
$254.1 |
| 2000 |
176 |
$94.8 |
| 1999 |
145 |
$58.8 |
| 1998 |
122 |
$29.2 |
| 1997 |
83 |
$17.2 |
| 1993 |
86 |
$11.1 |
| 1991 |
123 |
$93.6 |
| * All data for 2001 are complete through Dec. 28, 2001. |
| Source: BankruptcyData.com |
(The National Law Journal, January 2002) |
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