Report: CIT Preparing Plan to Hand Control to Bondholders
From the WSJ: CIT in Last-Ditch Rescue Bid
CIT is preparing a sweeping exchange offer that would eliminate 30% to 40% of its more than $30 billion in outstanding debt … The plan would offer bondholders new debt secured by CIT assets, as well as nearly all of the equity in a restructured company. … If not enough bondholders agreed to the plan, the company could seek to execute the restructuring in bankruptcy court, the person said. The result could potentially be one of the largest Chapter 11 bankruptcy-court filings in U.S. history.
Now it appears CIT is at the end of the road …
| IN ONE HOUR OF TRADING YOU CAN MAKE MORE MONEY THAN MOST PEOPLE DO SLAVING AT A DEAD END JOB ALL WEEK LONG… |
 I didn’t believe it either until I saw the proof with my own eyes…
Click here for the full report Genius chess player with a certified I.Q. of 157 unveils his ‘sneaky’ (and 100% legal) trading system which can… … secure net profits up to $1250 |
Comment on this post below.
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009