ResCap Attys Look Back On A Rollercoaster Bankruptcy

Law360, New York (December 19, 2013, 9:50 PM EST) -- It took 19 months, but Residential Capital LLC’s Chapter 11 case finally ended Tuesday, bringing closure to the wildly unpredictable bankruptcy that attorneys told Law360 presented the most complicated legal issues and resolutions in recent memory.

The case involved billions in potential liability, took twists and turns that no one foresaw, required nearly a year of mediation between creditors, ResCap and ResCap’s former parent, Ally Financial Inc., and ended with a trial that stretched out over October and November. But on Dec. 11, attorneys from Morrison...
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