CIT's prepackaged bankruptcy marked the very first time a leading financial institution was able to successfully restructure and emerge from Chapter 11 bankruptcy, challenging conventional perspectives that a financial company couldn't survive bankruptcy proceedings as a going concern.
Oaktree and the Restructuring of CIT Group (A) Case Study Solution
A diverse group of private investors that had amassed a large position in CIT in the period leading up to the restructuring played a central part in the accomplishment of the restructuring. The case protagonist is Rajath Shourie, Managing Director at Oaktree Capital Management. Shourie evaluates the possibility to expand a $3 billion saving credit facility together with five other large creditors of the fighting bank, to CIT.
This case present a platform for conversing what constitutes a great purpose that is concerned is alluring. (Similarly, pupils can get in depth insight into alternate financing models of corporate lenders, inculcating banks along with finance companies.) The second major constituent of the case concerns nervous debt investment strategies, and offer a diagram of revolving an outlay in public balance into a point of control over CIT's administration and the restructuring progression.
PUBLICATION DATE: October 08, 2013 PRODUCT #: 214035-HCB-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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