The Biggest Bankruptcies in Corporate History
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General Motors
The Biggest Bankruptcy in Corporate History
The besieged car company, General Motors, was declared bankrupt on June 1, 2009, when the federal government poured in billions of dollars to keep the company afloat. The executives asked the government for financial help and declared they were close to insolvency. The insolvency led to the closure of brands like Saturn and Pontiac and Hummer was sold to a Chinese company.

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