Bankruptcy Timeline of Events

Home / Timelines / Bankruptcy

Bankruptcy

Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....

Timeline of Events

1979

9.7.1979

The Chrysler Corporation asks the United States government for USD $1.5 billion to avoid bankruptcy.

1989

3.9.1989

A strike forces financially-troubled Eastern Air Lines into bankruptcy.

1992

8.18.1992

Wang Laboratories files for bankruptcy.

2001

10.11.2001

The Polaroid Corporation files for federal bankruptcy protection.

2008

9.29.2008

Following the bankruptcies of Lehman Brothers and Washington Mutual, The Dow Jones Industrial Average falls 777.68 points, the largest single-day point loss in its history.