Judge Threatens To Bump ResCap RMBS Hearing To 2013

Law360, New York (September 11, 2012, 2:48 PM EDT) -- A New York bankruptcy judge threatened Tuesday to kick a settlement hearing on residential mortgage backed securities issues in loan servicer Residential Capital LLC's fast-tracked Chapter 11 case to the beginning of next year if the company and its creditors cannot resolve their discovery issues.

U.S. Bankruptcy Judge Martin Glenn warned that a Nov. 5 hearing date is in jeopardy after a creditor's committee filed a report that blasted ResCap for failing to meet key deadlines in a tight discovery schedule that the mortgage service company...
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