Its Time - GGP Files For Bankrupcy

Reuters:

April 16 (Reuters) - General Growth Properties Inc GGP.N,the second-largest U.S. mall owner, filed for bankruptcyprotection on Thursday as the credit crisis claimed its biggestreal estate victim. The company has assets of $29.56 billion and total debts of $27.29 billion, according to its bankruptcy petition. General Growth has warned since November that it may have to seek
protection from its creditors because it was unable to refinance maturing mortgages.

The following is a list of the largest U.S. bankruptciessince 1980, according to court records and the websiteBankruptcyData.com:
COMPANY/YEAR TOTAL ASSETS
Lehman Brothers Holdings Inc (2008) $639,000,000,000
*WorldCom Inc (2002) 103,914,000,000
Enron Corp (2001) 63,392,000,000
Conseco Inc (2002) 61,392,000,000
Texaco Inc (1987) 35,892,000,000
Financial Corp of America (1988) 33,864,000,000
Refco Inc (2005) 33,333,172,000
Washington Mutual Inc (2008) 32,900,000,000
*Global Crossing Ltd (2002) 30,185,000,000
Pacific Gas and Electric Co (2001) 29,770,000,000
General Growth Properties Inc (2009) 29,560,000,000
*Lyondell Chemical Co (2009) 27,392,000,000
UAL Corp (2002) 25,197,000,000
Delta Air Lines Inc (2005) 21,801,000,000
Adelphia Communications Corp (2002) 21,499,000,000
MCorp (1989) 20,228,000,000
Mirant Corp (2003) 19,415,000,000
Delphi Corp (2005) 16,593,000,000

* - from court documents