The government gave CIT $US2.3 billion last fall as part of its $US700 billion bank rescue program. That $US2.3 billion investment was lost when CIT filed for bankruptcy.
CIT Group Inc, one of the biggest US lenders to small and mid-sized businesses, said that a judge approved its reorganisation plan and it plans to emerge from bankruptcy protection on Thursday.
Click on the following for more details: CIT Group moves away from bankruptcy | Stuff.co.nz
1 comment:
It’s an amazing accomplishment to see the century old stalwart get back the game, quickly, clean and with a fresh start. Small and mid-sized businesses should be looking to do the same. Everyone that’s still in the game has the ability to redefine themselves and their business. The Receivables Exchange’s innovative auction trading platform gives the SMB community a new beginning – the opportunity to diversify their finding sources and quickly access more than $20 billion from a global network of accredited institutional investors. How will your company make a difference and put themselves in a position to succeed and grow regardless of economic condition that remain out of the company’s immediate control?
Post a Comment