ResCap, Bondholders Throw Final Punches In Interest Row

Law360, New York (November 6, 2013, 5:29 PM EST) -- Residential Capital LLC on Wednesday told a bankruptcy judge that a group of junior secured noteholders seeking $342 million in additional payouts have failed to show that the scope of the liens they hold on ResCap’s assets is as expansive as they claim.

In their final plea to the judge to find that the JSNs are not entitled to the hundreds of millions in post-petition interest on the debt they hold, lawyers for ResCap and its official committee of unsecured creditors argued that over the course...
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