ResCap Examiner Report Should Be Unsealed: US Trustee

Law360, New York (June 14, 2013, 4:11 PM EDT) -- Mortgage lender Residential Capital LLC can't hide the details of an examiner's report on its prebankruptcy asset transfers to former parent Ally Financial Inc. any longer, the U.S. Trustee argued Thursday, joining with bondholder Berkshire Hathaway Inc. in demanding the report be unsealed.

U.S. Trustee Tracy Hope Davis said the bankruptcy code has specific provisions that call for open, public access to bankruptcy court records like the independent examiner's report  — which focuses on multibillion-dollar transfers of ResCap’s operating assets to auto lender Ally before ResCap’s bankruptcy...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.