FAMOUS BANKRUPTS

A typical consumer bankruptcy filing, doesn’t cause much of a stir to the public at large. Usually no one other than your creditors ever finds out that you have filed. Unless, of course, you happen to be famous.

Here is a sampling of the newsworthy bankruptcy filings that have taken place throughout the years. (See how many names you recognize):

Rembrandt H. V. Rijn
Phineas Taylor Barnum
Mark Twain
Henry John Heinz
Milton Hershey
Henry Ford
Mickey Rooney
Johnny Unitas
Burt Reynolds
Sherman Hemsley
Kim Basinger
Wayne Newton
MC Hammer
Walt Disney
Larry King
Donald Trump
Mike Tyson

And let’s not forget these highly notable filings: Texaco, Macy’s TWA, Penn Central Station and Enron.

Most famous “ALMOST WENT BANKRUPT” goes to: New York City. The year was 1975 and Abe Beam was mayor. The City avoided bankruptcy only because the federal government extended a large federal loan, and the NYC Teacher’s Union agreed to invest $150 million dollars from their pension fund to purchase municipal bonds. Anyone remember the New York Daily News Headline from that era? “FORD TO CITY: DROP DEAD!”



Disclaimer: The Law Offices of Michael E. Zapin is a debt relief agency and we help our clients file for bankruptcy relief.