CIT files for bankruptcy
mizozo.com — CIT Group filed for Chapter 11 bankruptcy protection today after months of trying to avert it. The bankruptcy was filed in an attempt to restructure its debt while trying to keep badly needed loans flowing to thousands of mid-sized and small businesses... (Submitted by mizozo) More...
CIT Said to Have Spurned $2 Billion Secured Loan From GE
bloomberg.com — CIT Group Inc. [CIT], the commercial lender seeking to avoid bankruptcy, rejected a General Electric Co. offer of at least $2 billion in senior secured loans backed by aircraft, four people familiar with the matter said. (Submitted by rmcbond) More...
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