GM- USA most egregious bankruptcies - #4 general-motors-4-us-top-8-most-egregious-bankruptcies For fiscal year 2007, General Motors, accumulated losses of US$38.7 billion, as sales dropped 45%. Immediately after the Chapter 11 filling, the leases on 7 corporate jets were voided... GM received $33 billion in debtor-in-possession financing.