CIT Group Inc. shares tumbled more than 75 percent Thursday morning as its inability to get emergency government funding raised expectations that the commercial lender will file for bankruptcy protection.
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CIT won't get bailout, raising bankruptcy prospect (AP)
Posted by admin 238 days ago (http://us.rd.yahoo.com)California Cities Face Bankruptcy Curbs
Posted by admin 288 days ago (http://online.wsj.com)
A California bill that could reach a final vote in July would require municipalities seeking bankruptcy protection to first obtain approval from a state commission.
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Experts say GM bankruptcy almost inevitable (AP)
Posted by admin 305 days ago (http://us.rd.yahoo.com)
For General Motors Corp., the task at hand is so difficult that experts say a Chapter 11 bankruptcy filing is all but inevitable.
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