TITLE

Judge OKs CIT's Exit from Chapter 11

PUB. DATE
December 2009
SOURCE
American Banker;12/9/2009, Vol. 174 Issue 219, p2
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that CIT Group Incorporated has won court approval to cancel old shares of stock, shed debt and exit bankruptcy court protection with new stock. U.S. Bankruptcy Judge Allan Gropper confirmed the company's prepackaged Chapter 11 reorganization plan, which already had credit support when CIT filed for bankruptcy in November 2009.
ACCESSION #
46708929

 

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