ResCap Discovery Rules OK'd Over Bondholders' Protests
By Maria Chutchian
Law360, New York (September 3, 2013, 2:37 PM ET) -- A New York bankruptcy judge on Tuesday signed off on Residential Capital LLC’s proposed guidelines for discovery related to plan confirmation, despite pushback from a group of junior secured noteholders who contended the guidelines may keep them from accessing certain information.
Under the approved discovery rules, creditors seeking additional documents outside of the 14 million that ResCap says it has already produced will have to demonstrate good cause for their request. The JSNs argued in court papers that ResCap has already predetermined what it thought was...