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In Re: RFC and RESCAP Liquidating Trust Litigation

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Case overview

Case Number:

0:13-cv-03451

Court:

Minnesota

Nature of Suit:

Contract: Other

Judge:

Susan Richard Nelson

Firms

Companies

Sectors & Industries:

  1. June 21, 2019

    Mortgage Lender To Pay ResCap Trust $23M In Atty Fees

    A Minnesota federal judge has found that counsel for the successor to the now-defunct Residential Funding Co. LLC earned the more than $23 million in fees and costs they requested for their work on a suit against a Lending Tree unit over bad mortgages.

  2. November 08, 2018

    ResCap Trust Nabs $28.7M Verdict In Mortgage Lender Suit

    A Minnesota federal jury on Thursday handed a nearly $29 million verdict to the successor for the now-defunct Residential Funding Co. LLC in its case accusing a former LendingTree unit of having sold it bad mortgage loans before the financial crisis that eventually led to hefty bankruptcy settlements for RFC.

  3. July 24, 2017

    PNC Bank Can't Duck New ResCap Loan Claims

    A Minnesota federal judge on Friday denied PNC Bank's bid to toss the second lawsuit brought against it by ResCap Liquidating Trust over the alleged sale of bad loans by a PNC predecessor that supposedly contributed to ResCap's bankruptcy, saying the two suits are based on different facts.

  4. March 27, 2017

    Stinson Staves Off DQ In 2 ResCap MDL Cases

    A Minnesota federal judge said Monday that Stinson Leonard Street LLP would not be barred from representing two mortgage lenders in Residential Capital LLC's shoddy loan multidistrict litigation, saying their cases differed from one where the law firm could not participate.

  5. December 09, 2016

    Minn. Judge Stiff-Arms Stinson From Role In ResCap MDL

    Minnesota's chief federal justice blocked Stinson Leonard Street LLP on Thursday from joining the legal team of bankrupt mortgage company Impac Funding Corp., saying the firm's involvement would trigger another conflict-of-interest judicial recusal and setback for a multidistrict shoddy-loan case.

  6. November 16, 2016

    2 Lenders Dropped From ResCap's Contract Breach Suit

    Two mortgage companies accused of breaching their contract with Residential Capital LLC by selling ResCap bad loans that contributed to its bankruptcy have been cut from a sprawling lawsuit in Minnesota federal court after both sides agreed to a deal, court records show.

  7. November 01, 2016

    ResCap Accuses Impac of Judge Shopping in Firm Hire

    The liquidation trust of Residential Funding Co. LLC on Monday accused a former lender and defendant in a multidistrict shoddy-loan litigation of judge-shopping when it brought on the BigLaw firm of a Minnesota federal judge's husband and tried to force her exit from their case.

  8. July 14, 2015

    Mortgage Lender Can't Hit Brakes On ResCap's Breach Suit

    A mortgage company can't escape allegations that it sold shoddy loans to a Residential Capital LLC subsidiary that helped throw the parent company into bankruptcy, after a Minnesota federal judge ruled Tuesday that contract language governing the loan sales is ambiguous.

  9. June 25, 2015

    ResCap Lenders Can't Shake Breach of Contract Claims

    A Minnesota federal judge on Thursday squashed a bid by mortgage lenders to dodge breach of contract and indemnification claims by Residential Capital LLC's liquidating trust, unconvinced by arguments that the trust failed to show that the contract was actually formed and accepted.

  10. May 15, 2015

    Mortgage Firms Accuse ResCap Of Dragging Feet On Damages

    A group of mortgage lenders accused of selling shoddy products to a Residential Capital LLC unit demanded Thursday that ResCap provide information on its purported damages, saying the mortgage servicer has employed gamesmanship and delay in order to buck federal rules.

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