Law360, New York (May 29, 2012, 4:27 PM ET) -- Residential Capital LLC shot back Friday at pension funds and financial companies including Allstate Insurance Co. that have targeted it over soured mortgage-backed securities, seeking to pause such litigation against its executives and affiliated companies while it undergoes bankruptcy restructuring.
In a complaint filed in New York bankruptcy court, ResCap seeks to extend the automatic stay over 27 mortgage-backed securities lawsuits against it that also target nondebtor groups including its parent Ally Financial Inc., claiming that such litigation would drain the insurance policies and proceeds that...
ResCap Wants Ex-Officers, Affiliates Spared From MBS Suits
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