Capmark Financial's cases consolidated

Jamie Mason

Updated 03:52 PM, Oct-27-2009 ET
Private equity-backed commercial real estate financial services provider Capmark Financial Group Inc. has received approval to adminster its bankruptcy cases together.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware in Wilmington approved the joint administration of the cases on Tuesday, Oct. 27, court papers said.

The Horsham, Pa.-based debtor filed for Chapter 11 on Sunday, Oct. 25, with 43 affiliates.

Capmark is 75.4%-owned by affiliates of private equity firm Kohlberg Kravis Roberts & Co., hedge fund Five Mile Capital Partners LLC, PE fund Goldman Sachs Capital Partners and Dune Capital Management LP.

Capmark was forced to seek bankruptcy protection due to the difficult market conditions, which have hurt its business operations.