CIT Group on Sunday filed for Chapter 11 bankruptcy protection in New York’s Southern District Bankruptcy Court, and on Monday it asked the judge overseeing the case, Allan Gropper, for approval to receive a special loan facility to be used during the court-supervised workout.

The company listed over 100,000 creditors in its bankruptcy filing. Its assets totaled $71 billion, while its liabilities came to nearly $65 billion.

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