Examiner Delays Report On ResCap's $750M Deal With Ally

Law360, New York (November 26, 2012, 9:37 PM EST) -- The court-appointed examiner tasked with investigating a $750 million prepetition agreement Ally Financial Inc. arranged to distance itself from bankrupt mortgage servicing arm Residential Capital LLC told a New York Bankruptcy court Monday that he will need more time to complete his assignment.

Retired U.S. Bankruptcy Judge Arthur J. Gonzalez submitted an amended work plan that has him presenting his report in April 2013 as opposed to February, as originally planned. The extra two months will be needed to finish interviewing witnesses and collecting documents from...
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