CIT Group on Brink Of Collapse -- AgainQuicklink submitted by Margaret Bassett Permalink
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|[I]f bondholders reject the plan, sources said, the company could be forced to file what would be the fifth-largest bankruptcy in U.S. history, behind those of Lehman Brothers, Washington Mutual, WorldCom and General Motors. In this case, much of the taxpayer investment in CIT would be lost.It remained unclear if the CIT debt exchange plan would receive enough support. Bondholders often have competing interests....|
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