Bankruptcy

NEW YORK, Dec 18: Insurance and finance company Conseco Inc., with $52.2 billion in assets, filed a Chapter 11 petition for voluntary bankruptcy-court protection, the Wall Street Journal reported on Wednesday.

In terms of assets, the filing would be among the largest in US corporate history, behind WorldCom Inc $107 billion in assets and Enron Corp’s 63.4 billion dollars.

Conseco listed $52.2 billion in assets in its latest quarterly report.—AFP

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