Old Project Avalon Forum (ARCHIVE) - View Single Post - CIT group preparing for possible bankruptcy filing

NorthernSanctuary · 07-11-2009, 03:04 PM

Are they struggling for a bail-out because they are a commercial US lender as opposed to an investment bank?

How many bailouts do they want? I thought they got that before ?

But the bankruptcy is normally to give some time for the company to restructure their business so that it can come up with a new business plan to become profitable again without their creditors breaking the door down. The alternative is to close up shop.

07-11-2009, 03:04 PM	#5
NorthernSanctuary Avalon Senior Member Join Date: Sep 2008 Location: Montreal, Canada Posts: 698	Re: CIT group preparing for possible bankruptcy filing Are they struggling for a bail-out because they are a commercial US lender as opposed to an investment bank? How many bailouts do they want? I thought they got that before ? But the bankruptcy is normally to give some time for the company to restructure their business so that it can come up with a new business plan to become profitable again without their creditors breaking the door down. The alternative is to close up shop.