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Posted On: March 28, 2010 by Scott Sagaria

Bankrupty Notes: Capmark's Chapter 11

A San Jose bankruptcy frim attorney reflects on Capmark's bankruptcy

The collapse of the real estate market has profoundly impacted more than just individual consumers. Capmark Financial Group, Inc. announced last year that it filed for Chapter 11 bankruptcy. Several of Capmark’s subsidiaries also filed in conjunction with Capmark. Capmark’s three primary businesses are lending and mortgage banking, investments and funds management, and servicing.

Capmark was forced into bankruptcy as a result of $1.6 billion second quarter loss due to the continued deterioration of the commercial real estate market. Capmark was placed into a further financial bind when the FDIC required Capmark to increase the liquidity of Capmark Bank, one of its commercial mortgage banks.

The Chapter 11 restructuring gave Capmark the opportunity to restructure its debt in order to reduce its current debt obligations. At the time Capmark stated that during the restructuring process it would be able to successfully continue to conduct trust services and meet its current lending commitments, and that it will not affect its customers’ deposits.

If you have questions regarding Bankruptcy in San Jose please contact us at 408.279.2288 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our downtown San Jose bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your bankruptcy or bankruptcy litigation case. If you have questions about filing a Chapter 7 bankruptcy, a Chapter 11 bankruptcy, a Chapter 13 bankruptcy, or would like to learn more about bankruptcy litigation, legal debt settlement, mortgage modification, lien stripping, cram down, stopping a foreclosure, wage garnishment, asset protection, discharging a debt, etc. we can help! We have bankruptcy attorneys located throughout California and Oregon who can assist you with all of your debt resolution questions. Please feel free to complete our free online bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy. We look forward to hearing from you, San Jose and the South Bay!

Posted by Scott Sagaria | | Email This Post | Comments (0)

Posted In: Bankruptcy News , Chapter 11 Bankruptcy

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