Goldman Beats Capmark's $147M Clawback Suit

Law360, New York (April 9, 2013, 7:12 PM EDT) -- A New York federal judge on Tuesday threw out a suit that real estate lender Capmark Financial Group Inc. brought to recover $147 million paid to Goldman Sachs Group Inc. affiliates prior to its bankruptcy.

Capmark claimed that Goldman, which loaned Capmark money while indirectly investing in it, used its alleged insider status to restructure loans to ahead of the real estate company’s bankruptcy. Money paid to an insider ahead of a bankruptcy can be clawed back if a court finds the insider manipulated the circumstances...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.