Residential Capital, LLC

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Case overview

Case Number:

1:12-bk-12020

Court:

New York Southern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

November 22, 2024
Under The Radar: Bankruptcy News You May Have Missed

Troubled nursing home operator Petersen Health Care reached a settlement with the former owner of one of its properties, a Chapter 11 examiner urged mediation in the bankruptcy of New York hedge fund Weiss Multi-Strategy Advisers and the liquidating trust for Residential Capital LLC was given a two-year extension to continue insurance coverage litigation.
July 30, 2015
Lenders Refused Confidential Docs Behind $9B ResCap Deal

HSBC, UBS and other mortgage originators, facing a potentially hefty liability for an $8.7 billion settlement over residential mortgage-backed securities sold to Residential Capital LLC, cannot review the confidential communications that precipitated the massive deal, a New York bankruptcy judge said Thursday.
July 28, 2015
ResCap Wants Judge To Nix 'Foreclosure King's' $6M Claim

Residential Capital LLC's liquidating trust on Tuesday urged a New York bankruptcy court to deny a nearly $6 million claim from now-disbarred attorney David J. Stern, known as the 'Foreclosure King,' for providing legal services, saying that a material breach of contract should kill any hope for reimbursement.
April 08, 2015
$350M ResCap Suit Belongs Outside Bankruptcy, Insurers Say

A group of insurers urged a New York federal court Wednesday to withdraw from bankruptcy court a suit claiming they wrongly refused to cover about $350 million in settlement costs stemming from class actions against Residential Capital LLC, arguing it has no meaningful connection to ResCap's bankruptcy.
April 06, 2015
Atty Sanctioned Over Client's ResCap Bankruptcy Claims

A New York bankruptcy judge sanctioned attorney Pablo E. Bustos Monday, ruling he had failed to justify inadequate affirmative defenses in a response to a bid by Residential Capital LLC's liquidating trust to toss bankruptcy claims filed by one of Bustos' clients.
February 04, 2015
ResCap Trust Demands $350M In Coverage From Insurers

The liquidating trust left behind by Residential Capital LLC and two groups of mortgage borrowers who settled claims with the ResCap sued a dozen insurers in New York bankruptcy court on Tuesday, claiming that the carriers are refusing to cover over $350 million in settlement costs.
February 03, 2015
UBS, Others Can't Nix ResCap Suits Over Bad Mortgage Loans

A New York bankruptcy judge on Tuesday largely refused to dismiss four lawsuits brought by the Residential Capital LLC bankruptcy trust alleging mortgage originators including UBS Real Estate Securities Inc. and SunTrust Mortgage Inc. sold billions of dollars in defective loans, ruling that the trust has proper standing.
August 26, 2014
UBS Denied Remand Of ResCap's $685M RMBS Suit

A New York federal judge has denied UBS Real Estate Securities Inc.'s motion to remand a $685 million ResCap residential mortgage-backed securities suit to New York state court, saying Monday that UBS's filing of RMBS-related claims in the bankruptcy renders ResCap's suit a counterclaim and bumps it up to "core proceeding" status.
July 24, 2014
ResCap Borrower's Bad-Foreclosure Claim Pared In Ch. 11

A $58 million bankruptcy trust set up to compensate Residential Capital LLC borrowers cannot entirely expunge a claim brought by a man blaming a wrongful foreclosure for his wife's death, a New York bankruptcy judge ruled Thursday, saying the claimant can recover for any resulting emotional distress.
June 30, 2014
Judge Affirms Morrison's $4.2M Award For ResCap Fees

A New York bankruptcy judge on Friday approved an award of nearly $4.2 million in attorneys' fees to Morrison Cohen LLP for its representation of Residential Capital LLC's independent directors, rejecting accusations from the liquidating trust that it was being billed for unnecessary work.

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