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Article: Wilmington Trust Not a CIT Group Inc. Creditor.
- Article from:
- Business Wire
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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No Credit Exposure Involved in Trustee Role
WILMINGTON, Del. -- Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it is serving as trustee for certain equipment financing transactions involving CIT Group Inc. (CIT), which filed for Chapter 11 protection on Sunday, November 1, 2009 in the United States Bankruptcy Court, Southern District of New York.
News reports may have led some observers to believe that Wilmington Trust has loaned money to CIT Group. In fact, Wilmington Trust is not a creditor of CIT Group. Wilmington Trust serves as ...