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Loan Modification
: Mortgage Lender Implode-o-MeterCapmark Financial Creditors Want to Probe $1.5 Billion Loan
By Implode-Explode Heavy Industries
Creditors of Capmark Financial Group Inc. asked a court for permission to investigate a $1.5 billion loan the commercial property lender took out five months before filing bankruptcy.
The committee representing Capmark?s unsecured creditors said in court papers that it wants to know whether Capmark insiders wrongly helped lenders trade low-ranking debt for guaranteed loans arranged by units of Citigroup Inc. and JPMorgan Chase & Co.
Full post as published by Mortgage Lender Implode-o-Meter on June 16, 2010 (boomark / email).
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