CIT Group

Adds details, background) Sellers of protection on CIT Group Inc's <CITGQ.PK> bonds will need to pay buyers 31.88 percent of the insurance they sold, after an auction was held on Friday to set a value for the company's credit default...

In this article: Bankruptcy

...from bankruptcy this year * Shares of CIT fall (Adds comment, bylines, updated share price) By Jonathan Stempel and Walden Siew CIT Group Inc <CITGQ.PK> has won overwhelming bondholder support for its reorganization plan, a critical step...

In this article: Bankruptcy, New York, U.S., and U.S. Bankruptcy Court

...$64.07 billion of liabilities. CIT shares fell 0.4 cents to 19.6 cents in morning trading on the Pink Sheets. The case is In re CIT Group Inc, U.S. Bankruptcy Court, Southern District of New York, No. 09-16565. Reporting by Jonathan...

In this article: Bankruptcy, New York, U.S., and U.S. Bankruptcy Court

By Karen Brettell NEW YORK, Nov 18 (Reuters) - An auction to settle credit default swaps on CIT Group <CITGQ.PK> is likely to be the largest the market has faced so far, and trading by banks with exposures to CIT's swaps could potentially...

In this article: Barclays, Standard & Poor's, Small business, Bankruptcy, NEW YORK, and U.S.

NEW YORK (AP) - Commercial lender CIT Group Inc. provided a further glimpse into its troubled finances, saying it lost $1.07 billion during the third quarter as customers jumped ship and it tried unsuccessfully to avoid filing for...

In this article: CIT Group Inc., Balance sheet, NEW YORK, Cash flow, Revenue, Recession, Small business, and Bankruptcy

By Stephen Bernard, AP Business Writer NEW YORK Commercial lender CIT Group says it lost $1.07 billion during the third quarter as its cash crunch worsened ahead of filing for bankruptcy protection earlier this month. One of the...

In this article: All rights reserved, Revenue, Recession, Small business, USA Today, New York, and Associated Press

...could be wiped out. CIT shares closed Monday up two-tenths of a cent at 21.2 cents on the Pink Sheets. The bankruptcy case is In re CIT Group Inc, U.S. Bankruptcy Court, Southern District of New York, No. 09-16565. Reporting by...

In this article: CIT Group Inc, Bankruptcy, NEW YORK, U.S. Bankruptcy Court, Troubled Asset Relief Program, U.S. Securities and Exchange Commission, and U.S.

...system was tottering and government officials arranged a $2.3 billion emergency cash infusion into CIT Group, a troubled lender to small businesses. Today, CIT is in bankruptcy court, and the taxpayers' investment is on the brink of...

In this article: Bankruptcy, The Fed, Troubled Assets Relief Program, Treasury Department, On the merits, General Motors, and American International Group