Cit Grp. Pfd A (fka CIT-A)

[Stock]

I emailed broker reorganization department.

I understand CIT Group Bankruptcy has been executed, and that the OTCBB shows that the common and preferred shares are DELETED...

...HOWEVER... According to the PLAN OF BANKRUPTCY filed with the courts, CIT Preferred shareholders are entitled to CONTINGENT VALUE RIGHTS that will be determined in 60 days after settlement of certain debts.

Can you please check with Nasdaq and MAKE SURE these PREFERRED CITBQ shares I have in my account were NOT DELETED IN ERROR!

ALSO: Please route this message to an experienced staff person who has handled bankruptcy and preferred shares.

Thank you.


FOR YOUR REFERENCE:

www.otcbb.com/asp/dailylist_detail.asp?d=12/10/2009&mkt_ctg=ALL

SECURITY DELETIONS
Updated Symbol Company Name Effective Date Unit of
Trade Comments
08:59 CITBQ CIT Group Inc (DEL) Preferred Series A 12/10/2009 100 Plan of Bankruptcy Effective **
08:59 CITDQ CIT Group Inc (DEL) Non Cumulative Perp Pfd Conv Ser C 12/10/2009 100 Plan of Bankruptcy Effective **
08:59 CITEQ CIT Group Inc (DEL) Equity Units 12/10/2009 100 Plan of Bankruptcy Effective **
08:59 CITGQ CIT Group Inc (DEL) Common Stock 12/10/2009 100 Plan of Bankruptcy Effective **
08:59 CITQO CIT Group Inc (DEL) Preferred Series B 12/10/2009 100 Plan of Bankruptcy Effective **

FROM CIT BANKRUPTCY FILINGS:

"...60 days after the company emerges from BK, that will be the 'Measurement Date'. If on that date, the value of the common stock (in the market) is high enough that the unsecured senior debtholders get more than 30% of par from the common they receive in the BK, there will be 'excess value' created.

That 'excess value' will then be allocated via CVR to the Senior subdebt, then once they get 100% of par, to the Junior subdebt...then once THEY get 100% of par, it will allocate shares to the preferred CVR..."