NEW YORK, Oct 23 (Reuters) - Finance company CIT Group Inc. said on Friday in a webcast management presentation that creditor approval of its restructuring plan would help prevent significant loss in its value that could come with a so-called "free-fall" bankruptcy. The company said in slides accompanying the presentation that were filed with the Securities and Exchange Commission that the liquidation value of the company in a free-fall scenario is between 6 cents to 37 cents on the dollar. CIT, which has been squeezed by the downturn in the economy and the credit crisis, is currently running a debt exchange offer that it has said may enable it to avoid bankruptcy. It has also put forth a plan for reorganization through bankruptcy that it will put into place if the exchange offer is not successful |