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CIT Bankruptcy Newsletter
  • David’s Bridal Bankruptcy: 294-Store Chain Says Chapter 11 Could Lead to Liquidation 17 Apr 2023 18:52 GMT

    … retailer filed for Chapter 11 bankruptcy in a New Jersey … ” skeleton crew while the bankruptcy case moves through the legal … t take full advantage of bankruptcy by focusing on a … $293,077. Financial service firm CIT Group/Commercial Services, Charlotte, N …

  • Nike, Puma and Adidas Among Bankrupt Shoe City Creditors 07 Apr 2023 06:03 GMT

    … 11 petition in a Maryland bankruptcy court in Baltimore on March … Athlete’s Foot parent Arklyz Group inked a deal to acquire … a PPP loan, and The CIT/Commercial Services, N.Y …

  • Business with bankrupt banks: How does the First Citizens Bank tick? 31 Mar 2023 12:24 GMT

    … its January 2022 acquisition of bankrupt CIT Group for $2.2 billion. Customer …

  • First Citizens acquires bankrupt Silicon Valley Bank: 5 key things to know 27 Mar 2023 08:59 GMT

    Here are five crucial facts to be aware of regarding the acquisition: Under the terms of the purchase and assumption agreement, First Citizens will take over all of SVB's loans and deposits, as well as purchase approximately $72 billion of SVB's …

  • 21 Biggest Bankruptcies in American History 24 Mar 2023 14:12 GMT

    … CNO Financial Group, Inc. (NYSE:CNO), Conseco filed for bankruptcy in 2002 … . 7. CIT Group Assets at time of bankruptcy (in millions): $80,448 CIT Group is … an American financial services company which filed for bankruptcy …

  • 10 Biggest Bankruptcies in US History 13 Feb 2022 19:52 GMT

    … WorldCom, among other fraudulent bankruptcies, has led to the … , General Motors filed for bankruptcy in 2009. However, unlike … !  5. CIT Group ($80.45B) When CIT Group filed for bankruptcy in 2009, … stay in operation. After CIT Group was denied a second …

  • Biggest Bankruptcies in US history 13 Oct 2021 12:13 GMT

    … Rank Company Year Assets at Bankruptcy Downfall #1 Lehman Brothers 2008 … 82 billion Massive debt #5 CIT Group 2009 $71 billion Credit crunch … an accounting error. Even in bankruptcies, it seems, we have … dubious distinction of going bankrupt twice in the last …

  • Bankruptcy Court: Chapter 7 Trustee Bound By Pre-Conversion Actions of Debtors 25 Jun 2021 16:39 GMT

    … Jevic Holdings Corp. bankruptcy case, the U.S. Bankruptcy Court for the … under Chapter 7 of the Bankruptcy Code. In this latest decision … Committee of Unsecured Creditors v. CIT Group/Business Credit (In re …

  • What’s behind the unlikely First Citizens-CIT deal 16 Oct 2020 19:47 GMT

    Last October, as CIT Group was ramping up its integration … dollars in losses and a bankruptcy filing in 2009. It had … $180 billion-asset Citizens Financial Group in Providence, R.I., said … anniversary as chief executive of CIT in November. Laura Alix contributed …

  • Fashion retailer Century 21 files for bankruptcy, to shut all stores 11 Sep 2020 00:53 GMT

    … they are liquidating,” said bankruptcy attorney Joseph Sarachek, who … recovery,” Gindi wrote. Still, bankruptcy experts are puzzled by the … , with the largest creditor — CIT Group — being owed $5.9 … pressure even before the bankruptcy, according to a court …

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