CIT’s strategy gets OK of court
Bankruptcy exit scraps old stock
Posted: December 9, 2009 at 4:05 a.m.
CIT Group Inc., the 101-year-old commercial lender, won court approval Tuesday of a plan to cancel old shares, shed debt and exit bankruptcy court protection with new stock worth as much as $11 billion.
This story is only available from the archives. Click here to contact the online desk.
Business, Pages 27 on 12/09/2009
(Advertisement)
« Previous Story
Auto market surging in China
China extended its lead over the U.S. as the world’s biggest auto market in November, with production and sale... Read »
Next Story »
HP cancels 2-week employee break
Hewlett- Packard Co. is canceling its two-week Christmas break for some U.S. sales employees because they need to spend the time closing deals, according to an internal e-m... Read »
Comments
To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Please read our comment policy.
Use the comment form below to begin a discussion about this content.
Registration is required to make comments. Click here to LOGIN.
You can register for FREE to post comments and receive alerts.