Real Estate Collapse Sends Capmark To Ch. 11

Law360, New York (October 26, 2009, 6:14 PM EDT) -- Commercial real estate financing company Capmark Financial Group Inc. and more than 40 of its affiliates have filed for Chapter 11 bankruptcy protection, citing falling values of Capmark's commercial loan portfolios, the tightening of credit markets and a heavy debt burden.

In a filing Sunday in the U.S. Bankruptcy Court for the District of Delaware, Capmark said that it had already begun efforts to reduce its debt burden, including a restructuring of outstanding credit facilities and the sales of several units.

Among the moves that Capmark...
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