Capmark's Ch. 11 Plan Gets Green Light

Law360, Wilmington (August 19, 2011, 7:31 PM EDT) -- Capmark Financial Group Inc. won confirmation of its reorganization plan on Friday, clearing the commercial mortgage lender to distribute about $4 billion of stock, cash and new debt to unsecured creditors and streamline operations around its flagship bank.

U.S. Bankruptcy Judge Kevin Gross said he would sign off on the plan once it is submitted with minor language revisions hashed out at the confirmation hearing, likely early next week. Judge Gross was filling in for Judge Christopher S. Sontchi, who had handled the case from its...
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