Capmark Sues Goldman For $147M In Preference Claims

Law360, New York (October 24, 2011, 9:51 PM EDT) -- Commercial mortgage lender Capmark Financial Group Inc. on Monday sued Goldman Sachs Group Inc. affiliates to recover $147 million in allegedly preferential transfers made during Capmark’s now-closed Chapter 11 bankruptcy.

In the complaint filed in the Southern District of New York, Capmark said Goldman Sachs, which has a stake in a company that owns 75 percent of Capmark, used its position as an insider to restructure $8.7 billion in Capmark unsecured debt into a $1.5 billion secured loan just five months before Capmark filed for Chapter...
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