Local creditors line up in Capmark filing

Twenty-four creditors of a national commercial real estate lender that recently filed bankruptcy are in Richmond.

It’s not clear yet whether payments to those companies will be delayed or reduced, which can happen in a Chapter 11 bankruptcy case.

This week, Capmark Financial Group filed for Chapter 11 bankruptcy protection.
The company is a leading lender to developers of office towers, strip malls, hotels and multi-family properties.

The lender listed assets of $20.1 billion and liabilities of $21 billion as of June 30 in the filing. Last month the Pennsylvania-based company posted a quarterly loss of $1.6 billion amid rising defaults on commercial mortgages. Read more