Judge Orders Examiner Appointment In ResCap Bankruptcy

Law360, New York (June 18, 2012, 6:26 PM EDT) -- A New York bankruptcy judge granted Berkshire Hathaway Inc.'s request Monday to appoint an independent examiner to investigate Residential Capital LLC's transactions with parent Ally Financial Inc. and any settlements reached in connection with its Chapter 11 filing.

U.S. Bankruptcy Judge Martin Glenn granted the Warren Buffett-run holding company's motion, which was supported by the U.S. trustee, saying the "appointment of an examiner is required and is appropriate" in this case.

"While I disagree with the U.S. trustee that the appointment of an examiner is mandatory...
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