White & Case Enlisted Amid ResCap Bankruptcy Rumors

Law360, New York (January 9, 2012, 3:42 PM EST) -- Holders of more than $800 million of secured bonds of Residential Capital LLC have retained White & Case LLP to represent them in the wake of reports that parent company Ally Financial Inc. is considering forcing ResCap into bankruptcy, the law firm revealed Monday.

The group consists of a wide range of bondholders, including institutional and secondary holders, who now hope to "work constructively with ResCap and its advisers to ensure that secured bondholders receive the par recovery they are entitled to receive," the firm said....
To view the full article, register now.