Largest corporate bankruptcy
- Who
- Lehman Brothers Holdings Inc.
- What
- 613000000000 US dollar(s)
- Where
- United States
- When
- 15 September 2008
The largest corporate bankruptcy amounted to $613 billion (£380 billion) filed by the US investment bank Lehman Brothers Holdings Inc., on 15 September 2008.
The bank succumbed to the subprime mortgage crisis, which started the worldwide recession in 2008. The company was forced to file for bankruptcy after losing 94% of market value in 2008 and the failed sale to Barclays PLC and Bank of America Corp.