Ex-Capmark CEO Sued For $17M Over Stock Redemption Payments

Law360, New York (January 23, 2012, 10:51 PM EST) -- Capmark Financial Group Inc. on Monday launched an adversary suit against its former President and CEO William F. Aldinger III and related trusts, seeking recovery of approximately $16.7 million in stock redemption payments it made to him following his resignation.

In its suit, filed in Delaware bankruptcy court, the mortgage lender says it was insolvent at the time an agreement outlining the payments was signed and the payments were made in December 2008, and claims the debt it incurred should be avoided and the amounts it...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.