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Goldman owed $1 billion if CIT goes bankrupt: report
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CIT Group files for fifth largest Bankruptcy protection in US history
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In one of the largest bankruptcy filings in United States history, CIT Group, a lender to small and medium sized businesses announced it has filed for debt reorganization under chapter 11. On November 1, 2009, CIT Group filed for Chapter 11 bankruptcy protection.
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- News Source: Asian Wall Street Journal | 2 months agoGoldman Sachs Group Inc. said on Monday it is in talks to potentially amend the terms of a $3 billion loan to embattled CIT Group Inc. "Goldman Sachs is working with CIT to enable it to continue to use the facility, which we believe gives it its most...
- News Source: Fox News | 2 months agoIf CIT Group (CIT) files to reorganize under Chapter 11 of U.S. bankruptcy law, Goldman Sachs could receive a $1 billion payment because of the structure of a $3 billion rescue financing that Goldman had arranged for the New York commercial lender,...
- News Source: India Abroad | 2 months agoThe payment stems from the structure of $3 billion rescue finance package that Goldman extended to CIT on June 6, last year, about five months before the Treasury bought $ 2.3 billion in CIT preferred shares to prop it up at the height of the crisis,...
- News Source: International Business Times | 2 months agoGoldman Sachs Group Inc would be due a $1 billion payment if troubled commercial lender CIT Group were to file for Chapter 11 bankruptcy, the Financial Times reported on Sunday, citing people familiar with the matter. The report said Goldman would...
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