Elevarse Performance Consulting

Here’s what happened
The Players: J.P. Morgan Chase (lender) + Mayer Brown LLP (law firm).

The Context: General Motors’ bankruptcy in 2009.

The Loan: J.P. Morgan was secured on a $1.5 billion loan to GM—meaning they were first in line for repayment.

The Mistake: While preparing unrelated paperwork, lawyers accidentally included the termination of that massive loan in the filings.

The Consequence: The filing was accepted as valid. When GM went bankrupt, J.P. Morgan lost its secured status. The $1.5B loan became unsecured.

The Cost: The syndicate of lenders lost more than $1 billion.

💡 The lesson? Clear communication + meticulous review = protection from billion-dollar mistakes.

Have you ever sent a work email you immediately regretted?

#BusinessLessons #Leadership #RiskManagement #CommunicationSkills #WorkplaceCulture