CIT Bankruptcy - Recovery Could be as Low as 6 Cents!

By Linda Shen and Michael Moore

Oct. 23 (Bloomberg) -- CIT Group Inc., the 101-year-old lender working to avert collapse, said general unsecured claims may be as low as 6 cents per dollar in the case of an “accelerated liquidation.”

CIT said in a regulatory filing today that if its reorganization plan fails, it “will likely face bankruptcy” and that those claims would fetch recoveries between 6 cents and 37 cents a dollar.

Read More...

We are actively involved in this credit, please call or email Peter Aman for current market prices and/or more information about this situation.

We are also active in many other high yield and distressed corporate bonds.

Peter Aman

PAman@aps-financial.com

800-248-0630