ResCap Wins More Time To File Ch. 11 Plan

Law360, New York (December 20, 2012, 1:46 PM EST) -- A New York bankruptcy judge granted Residential Capital LLC more time with the exclusive right to file a Chapter 11 plan Thursday, saying that the case is extremely complicated and that a great deal of work still needs to be done.

U.S. Bankruptcy Judge Martin Glenn granted the debtor's motion for 70 more days to file a plan, extending the exclusivity period, which was set to expire Thursday, out to Feb. 28. The debtor will now have until April 29 to solicit acceptances for any plan...
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