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Capmark bid procedures approved

Posted on November 6, 2009 2:30 PM
Warren Buffett's dealmaking this month does not stop with Burlington Northern Santa Fe Corp. Berkadia Commercial Mortgage LLC, an entity formed by Buffett's Berkshire Hathaway Inc. and Leucadia National Corp., will enter a Nov. 23 bankruptcy auction for Capmark Financial Group Inc.'s mortgage servicing and banking business as the stalking-horse bidder with a $1.09 billion bid.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware in Wilmington approved the bidding procedures for the sale of Capmark's mortgage servicing and banking business, or MSB, on Wednesday, Nov. 4, court documents said.

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