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CIT files for bankruptcy protection
By Aline van Duyn in New York
Published: November 1 2009 21:35 | Last updated: November 2 2009 00:09
CIT Group, the troubled US commercial lender that has been in business for more than a century, on Sunday filed for bankruptcy after attempts at a restructuring or bail-out failed.
In a statement, CIT said it had asked the bankruptcy court to quickly confirm its prepackaged bankruptcy plan, which has broad support from its debt holders and on Friday received backing from Carl Icahn, the billionaire investor.
http://www.ft.com/cms/s/0/66b46b12-c72e-11de-bb6f-00144feab49a.html?nclick_check=1
CIT files for bankruptcy protection
By Aline van Duyn in New York
Published: November 1 2009 21:35 | Last updated: November 2 2009 00:09
CIT Group, the troubled US commercial lender that has been in business for more than a century, on Sunday filed for bankruptcy after attempts at a restructuring or bail-out failed.
In a statement, CIT said it had asked the bankruptcy court to quickly confirm its prepackaged bankruptcy plan, which has broad support from its debt holders and on Friday received backing from Carl Icahn, the billionaire investor.
http://www.ft.com/cms/s/0/66b46b12-c72e-11de-bb6f-00144feab49a.html?nclick_check=1