ResCap Touts Ch. 11 Plan As Bondholders Push For More Pay
By Maria Chutchian
Law360, New York (November 19, 2013, 6:26 PM ET) -- Residential Capital LLC on Tuesday said the objections of a group of junior secured noteholders cannot block the confirmation of its liquidation plan, saying the plan resolves billions of dollars in claims and has almost unanimous support otherwise.
Attorneys for the fallen mortgage servicer kicked off the first day of arguments in favor of their proposed plan, which is being questioned only by the JSNs, who argue that the series of settlements that make up the plan are either unfair to the various creditors involved or...