ResCap Confirmation Trial Will Wrap Up In December

Law360, New York (November 25, 2013, 3:11 PM ET) -- The battle between Residential Capital LLC and a group of bondholders over hundreds of millions of dollars — as well as confirmation of ResCap’s proposed liquidation plan — won’t be resolved for at least two weeks as attorneys agreed Monday to argue the issues one last time in December.

On the fifth day of the second phase of a trial over an ad hoc group of junior secured noteholders’ bid for $342 million in post-petition interest, attorneys for both sides said they would return to court Wednesday,...
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