CIT Looks To Shed $10B Of Debt With Bankruptcy Filing

Rozens, Aleksandrs
November 2009
Mergers & Acquisitions Report;11/9/2009, Vol. 22 Issue 45, p12
The article reports on the Chapter 11 bankruptcy protection filing of CIT Group Inc. in the Southern District Bankruptcy Court of New York on November 2009. Judge Allan Gropper has received a request for approval to receive a special loan facility to be used during the court-supervised workout the following day. The specialization of the firm, which serves small and middle-market firms, is in factoring. The bankruptcy of the company is attributed to the credit crisis.


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