ResCap Wins In Bondholder Row Over $342M Interest Payout

Law360, New York (November 15, 2013, 1:45 PM EST) -- Residential Capital LLC scored a significant victory Friday when a bankruptcy judge ruled that a group of junior secured noteholders are not entitled to $342 million in additional interest on the debt they hold, ending the first part of a lengthy and hotly litigated dispute.

U.S. Bankruptcy Judge Martin Glenn issued a 117-page opinion Friday that largely ruled in favor of ResCap in its bid to keep the bondholders from accessing a higher payout than what they had been promised under a proposed Chapter 11 plan....
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