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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: bondholder

bondholder stories: 3 news summaries
UPDATED

CIT Strikes $3B Deal,
Averting Bankruptcy


Jul 19, 09 10:46 PM CDT
(Newser) - CIT Group Inc. has made a deal for a $3 billion rescue package from bondholders to stay afloat, Reuters reports. The board of the lender, which was facing bankruptcy, struck a tentative agreement tonight. It includes high interest rates and apparently lacks long-term solutions, reports the Wall Street Journal. But... More »

MORE ABOUT:
bankruptcy • bondholder • lenders • CIT Group

 GM Bondholders OK 
 Debt-for-Equity Plan in Vote 

Vote paves way to bankruptcy filing tomorrow morning

May 31, 09 9:08 AM CDT
(Newser) - GM bondholders voted yesterday to forgive $27 million in debt for equity in the restructured automaker, the Wall Street Journal reports. The move opens the door for a bankruptcy filing tomorrow morning, the New York Times notes. The Treasury Department was in charge of deciding whether enough bondholders backed the... More »

MORE ABOUT:
bankruptcy • General Motors • debt • equity • auto industry • bondholder

(Newser) - General Motors will file for bankruptcy protection Monday, insiders tell Bloomberg. The company has apparently decided that it cannot make the government-mandated June 1 deadline to shed $44 billion in debt. The timeline is unclear, but bondholders' agreement today to forgive debts in exchange for a stake in the “... More »

MORE ABOUT:
Chrysler • General Motors • debt • recession • Treasury Department • Chevrolet • auto industry • Cadillac • bankruptcy protection • bondholder

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