Capmark Grants $2.4B In Unsecured Loan Claims

Law360, New York (May 31, 2011, 5:25 PM EDT) -- Capmark Financial Group Inc. on Tuesday clinched an agreement with Wilmington Trust FSB that grants the trustee roughly $2.4 billion in unsecured claims under the bankrupt lender’s latest Chapter 11 plan in Delaware.

U.S. Bankruptcy Judge Christopher Sontchi signed off on the stipulation, granting Wilmington a $642 million unsecured claim relating to $850 million in floating notes, a $1.2 billion unsecured claim related to 5.875 percent note debt and a $519 million claim in connection with unsecured 6.3 percent note claims.

The resolution increases Wilmington’s claims...
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