Judge OKs CIT's Exit from Chapter 11

December 2009
American Banker;12/9/2009, Vol. 174 Issue 219, p2
Trade Publication
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.


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