Argentina has defaulted on its sovereign debt nine times, the most recent being in 2020 amid the COVID-19 pandemic and a deep recession. Argentina's default in 2001 triggered a severe economic and social crisis that lasted for years.
Enron was an American energy company that collapsed in 2001 after being exposed for accounting fraud and corruption. Enron's default was one of the largest and most notorious corporate scandals in history, resulting in criminal charges, lawsuits, and regulatory reforms.
Greece faced a sovereign debt crisis in 2010-2012 that threatened the stability of the eurozone and the global financial system. Greece received multiple bailouts from the European Union and the International Monetary Fund, but also defaulted on some of its obligations to private creditors and the IMF, imposing losses and haircuts on bondholders.
Lehman Brothers was a global financial services firm that filed for bankruptcy in 2008, triggering the global financial crisis of 2007-2009. Lehman's default was the largest bankruptcy filing in US history, and had widespread repercussions for the banking sector, the credit markets, and the economy.
Russia defaulted on its domestic and external debt in 1998, following a severe financial crisis that was triggered by low oil prices, high inflation, and a currency devaluation. The default sparked a wave of contagion and capital flight that affected emerging markets and global investors.