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Posted On: January 4, 2010 by Scott Sagaria

Capmark Financial Group Files Chapter 11 Bankruptcy

San Francisco Bankruptcy Firm Attorney dicusses Capmark's bankruptcy...

As a San Francisco Bankruptcy Attorney, i keep tabs on all bankruptcy filings in the news. Capmark Financial Group is the latest to file Chapter 11 bankruptcy. Capmark is on of the US’s largest commercial real estate finance companies. It is no surprise then that the economic downturn and the downturn of the real estate market has caused the company to file bankruptcy.

The Financial Times, reported Capmark suffered a loss of $1.6 billion in the second quarter of this year. According to the Financial Times, Capmark's bankruptcy filing listed about $20 billion in assets against consolidated debt of $21 billion. Additionally, 40 of the company's subsidiaries also filed for Chapter 11 bankruptcy protection over the weekend. In a statement released Sunday, the company emphasized that it still has "in excess of $500 million in cash and cash equivalents" and expects to continue its day-to-day operations.

Capmark services more than $288 billion in loans with a focus on the commercial real estate market - a sector many analysts believe may be the next part of the financial system to be severely tested as the global downturn continues.

If you have questions regarding bankruptcy in San Francisco or bankruptcy in the greater Bay Area please contact our San Francisco Bankruptcy Attorneys at (415) 946-8882 for a free consultation or visit www.bkanswers.com and we can connect you with one of our experienced San Francisco Bankruptcy Attorneys. After you have spoken with one of our Bay Area bankruptcy attorneys, we can schedule you for a free face to face appointment in an office location nearest you. Our team of Bankruptcy Lawyers, Bankruptcy Customer Care Specialists and Bankuptcy staff supporting San Francisco and Bay Area consumers in debt 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 Francisco Bay Area!

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Posted In: Chapter 11 Bankruptcy

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