ResCap Keeps Examiner Report Sealed With Ally Deal

Law360, New York (May 14, 2013, 1:12 PM ET) -- Residential Capital LLC has reached a deal with Ally Financial Inc. to end potential creditor claims and made significant progress toward a reorganization plan, allowing it to keep an independent examiner's report under seal until later this month, according to statements made Tuesday.

Following a hearing before U.S. Bankruptcy Judge Martin Glenn on Tuesday — the one-year anniversary of its entrance into Chapter 11 — Lewis Kruger, the chief restructuring officer for ResCap, said a deal had been reached and that as a result, the report...
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