November 3, 2009
NEW YORK — A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different.
The commercial lender's trip through bankruptcy reorganization may well be speedy given that it's already reached agreements with creditors on restructuring its debt. But the real test will come from CIT customers, who could decide to take their business elsewhere.
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