ResCap Fights Berkshire's Bid For Stalking Horse Status

Law360, New York (June 15, 2012, 3:42 PM EDT) -- Residential Capital LLC reiterated its request Thursday that a New York bankruptcy judge let parent Ally Financial Inc. and a Fortress Investment Group LLC unit act as stalking horse bidders in planned auctions, opposing Berkshire Hathaway Inc.'s bid to step into the role.

In an omnibus reply to objections to its bid for approval of sale procedures, ResCap argued that its proposal is the product of exhaustive due diligence and represents a fair and robust sale process that should not be derailed by Berkshire's interference. U.S....
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