Judge Clears CIT to Use Some Financing

November 2009
American Banker;11/4/2009, Vol. 174 Issue 200, p16
Trade Publication
The article discusses developments in CIT Group Inc.'s finances. Federal judge Allan Gropper made several routine rulings that will allow the bankrupt firm to continue operating. Gropper gave CIT permission for it to use a letter-of-credit facility from Bank of America Corp., and in December, 2009 will consider a restructuring plan submitted by the company.


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