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...
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.