CIT- USA most egregious bankruptcies – #5


CIT (from Commercial Investment Trust) Group Inc. is a US financial specialty business lender headquartered in New York providing financing and leasing capital. It operates CIT Bank. It is the largest US provider of factoring.

CIT Groupe declared bankruptcy on November 1, 2009.

With the consent of its bondholders, CIT emerged from bankruptcy on December 10, 2009. CIT Group is led by John Thain, a former Merrill Lynch Chief executive.