Update: 1 November 2011.

Two years have passed since the first list was compiled here at Asymptotix. Now with MG Global Chapter 11 filing, we though it's time to update the list (including pre-credit crunch):

1) Lehman Brothers Holdings, September 2008: $691 billion in assets

2) Washington Mutual, September 2008: $327.9 billion

3) WorldCom, July 2002: $103.9 billion

4) General Motors, June 2009: $91 billion

5) CIT Group, November 2009: $80.4 billion

6) Enron, 2001: $65.5 billion

7) Conseco, 2002: $61.4 billion

MF Global: $41 billion (as of Sept. 30)

8) Chrysler April, 2009: $39.3 billion

9) Thornburg Mortgage May, 2009: $36.5 billion

10) Pacific Gas & Electric Co., 2001: $36.15 billion

Sources: BankruptcyData.com and SEC filings for MF Global asset size

2 November 2009:

Biggest credit crunch bankruptcies so far:

1. Lehman Brothers, September 2008 - value of assets before bankruptcy: USD 691 bn

2. Washington Mutual, September 2008: USD 327 bn

3. General Motors, June 2009: USD 91 bn

4. CIT Group, November 2009: USD 71 bn

5. Chrysler, April 2009: USD 39 bn

6. Thornburg Mortgage, May 2009: USD 36 bn

These bankrupties qualify to the "honorable" top ten all-time-high list.

Worldcom (2002) was the largest bankruptcy before credit crunch days with assets "worth" USD 103 bn, followed by Enron (2001, USD 65 bn), Conseco (2002, USD 61 bn) and Pacific Gas and Electric Company (2001, USD 36 bn). CIT Group was the fifth largest in the country's corporate history by assets at USD 71 bn (now revised to 80 bn).