CIT Group News

Experts predicted that the Nov. 20 auction to settle CIT Group's credit default swaps is likely to be the largest the market has faced so far.

One out of every four San Jose police officers is specially trained to respond to emergency calls that involve a mentally ill or suicidal person.

CIT Group Inc on Thursday said it has won overwhelming support from bondholders for its reorganization plan, as the big finance company tries to emerge from bankruptcy by the end of the year.

The auction set for Nov. 20 to determine the value for credit default swaps on CIT Group may be the largest to date, and participation by banks with exposure to the troubled lender may could elevate bond prices and raise the valuations on the swaps, Reuters reports.

A year after the trustee overseeing the liquidation of Le-Nature's raised allegations of racketeering against the bankrupt Pennsylvania bottling company and several of its lenders, Chicago's MB Financial Bank has filed a suit of its own, going after companies that it says enticed it to invest in Le-Nature's despite knowledge of the company's true ...

CIT Group Inc. announced updated results of its solicitation for votes on its voluntary prepackaged plan of reorganization.

Michael Carpenter , named Nov. 16 as the new head of GMAC Inc., is no stranger to executive suites, distressed financial firms or the ailing auto and home lender.

When Rene Acremont and his wife, Samantha, opened a Tropical Smoothie CafA© franchise in Slidell in September, the process was seamless.

The Associated Press 1 comment Commercial lender CIT Group Inc. reported a loss of more than $1 billion during the third quarter.

Business analysts said the U.S. bailout package given CIT Group was money thrown after a lost cause, despite the lender's role in the financial system.

The number of so-called "prepackaged" bankruptcy filings has tripled this year, as troubled companies increasingly try to work out issues with creditors before bankruptcy, a study showed on Monday.

Auction administrators Creditex and Markit announced that the auction to settle the credit derivative trades for CIT Group will be held on Nov.

Investor Carl Icahn on Friday raised his offer for the senior notes of bankrupt CIT Group to $650 per $1,000 of principal notes tendered.

Wal-Mart Stores Inc. , the world's biggest retailer, is offering its clothing vendors a faster way to get paid that could change how struggling retailers and vendors do business together.

Commercial lender CIT Group Inc. said Friday that billionaire investor and bondholder Carl Icahn agreed to support the company's restructuring plan amid reports CIT may soon file for bankruptcy protection.

Bear Stearns shocked us. Lehman Brothers crushed us. AIG ticks us off. But CIT? Eh.

The announcement earlier this week that CIT Group was filing for bankruptcy was something many in the small-business world expected - but had hoped wouldn't happen.

CIT Group, which filed for Chapter 11 bankruptcy protection Nov. 1 in an effort to wipe away billions of dollars of debt, said it's still business as usual for its factoring arm.

A North Carolina pork producer has filed for bankruptcy after complaints from unpaid vendors and falling pork consumption tied to swine flu fears.

Small businesses and particularly retail-related companies could face problems in securing funding to expand, restock and survive in the new year with CIT Group Inc.