Nov 2nd, 2009 - Boston
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NEW YORK - A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different.
The commercial lender's trip through bankruptcy reorganization may well be speedy given that it has already reached agreements with creditors on restructuring its debt.
But the real test will come from CIT customers, who could decide to take their business elsewhere.
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Societe Generale Third-Quarter Net Doubles on Investment Bank
Nov 4th, 2009 - Bloomberg
Nov. 4 (Bloomberg) -- Societe Generale SA, France’s second-largest bank by market value, said third-quarter earningsdoubled as its investment-banking unit returned to profit.After filing for bankruptcy, CIT wants to borrow $500 million cushion
Nov 3rd, 2009 - cleveland
Daniel Acker, Bloomberg NewsCIT headquarters in New York.Staff and wire reportsNEW YORK — CIT Group Inc., the bankrupt 101-year-old commercial lender, sought a judge's...UBS Swings To 3Q Net Loss, Sees Outflows
Nov 3rd, 2009 - Wall Street Journal
(Adds management, analyst comment, rewrites.) ZURICH (Dow Jones)--UBS AG (UBS) Tuesday reported a net loss for the third quarter due to three big charges and cautioned...
Retailers 'Dodge Bullet' With CIT's November Bankruptcy Filing
Nov 3rd, 2009 - Bloomberg
Nov. 3 (Bloomberg) -- The timing of CIT Group Inc.’sbankruptcy filing may have helped U.S. retailers avoid a holidayseason with empty shelves. “Most retailers have dodged a bullet,” said CraigShearman...
CIT Group's future remains up in the air after bankruptcy filing
Nov 3rd, 2009 - Los Angeles Times
On the heels of its bankruptcy filing, CIT Group Inc.'s future as a commercial lending giant will be determined by the confidence of its creditors and customers.
The 101-year-old...
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Events over the last couple weeks have caused stress in dealmaking and had taken their toll on middle-market dealflow. In this edition of Inside The Deal, Gregg Smith, senior managing director of investment banking services at CIT ...
