Systemically Significant Enterprise Debtors?

Hey guys - I'm new here so wasn't really sure where to post this somewhat odd question. Quick background: I have a finance degree and spent a couple years doing audits/ monitoring collateral on ABS transactions - mostly trade A/R, a lot of other stuff, but no mortgages. I'm now a third-year law student, focusing on bankruptcy. Hoping to practice BK for 3-5 years and then move into distressed debt.

I'm doing some research for a professor right now, and he wants to make a case that there are non-financial businesses out there that might be "systemically significant." The initial examples he gave me were P&G ($100 million+ losses on swaps back in '94) and GE (recently, deemed systemically significant by FSOC).*

Random Question: Can you guys think of any non-financial debtors that might be "systemically significant" by virtue of their derivatives exposure? Similarly, can you recall any non-financial companies, like P&G, that have lost big on derivatives outside of 2008?

Thanks in advance - and let me know if this post is in the wrong place.

*A couple things - I know that GE got its designation mostly because of GE Capital - a subsidiary business which is basically a bank. I don't necessarily agree with the hypothesis that the professor is trying to prove, I'm just trying to gather the requested information because...you know...monkey.

 

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