ResCap, Bondholders Spar Over Plan Talks, Filing Period

Law360, New York (March 4, 2013, 6:13 PM EST) -- Neither Residential Capital LLC nor a group of junior bondholders are backing down in their dispute over the mortgage servicer’s bid to extend its time to exclusively file a Chapter 11 plan, with the noteholders saying Monday that alternative plans should be considered immediately.

The Ally Financial Inc. unit recently reduced the length of the extension it is seeking to file a plan without competition from other parties that want to submit plans from 90 days to 60 days after reaching an agreement with its creditors’...
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