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:

July 30, 2013
ResCap Bondholders Lose Bid To Dismiss Company's Attys

Junior secured noteholders in Residential Capital LLC's bankruptcy on Tuesday lost their bid to disqualify ResCap attorneys in a dispute over intercompany claims after a judge was unpersuaded by their argument that the lawyers have a conflict of interest.
July 26, 2013
GMAC To Pay $230M In Fed Foreclosure Deal

Bankrupt Residential Capital LLC's subsidiary GMAC Mortgage LLC will pay $230 million to borrowers who lost their homes due to the company's alleged deficient mortgage servicing and foreclosure practices under a deal with the Federal Reserve that secured court approval Friday.
July 12, 2013
Bankrupt ResCap Seeks Approval To Jettison Fla. Property

Days after submitting a reorganization plan, collapsed mortgage servicer Residential Capital LLC on Thursday asked for court approval to jettison 68 acres it owns in a mixed-used development in Jacksonville, Fla.
July 08, 2013
ResCap Plan Offers Some Recovery To Unsecured Creditors

Residential Capital LLC on Thursday submitted a reorganization plan that, if approved by the court, will guide the collapsed mortgage servicer out of bankruptcy and repay unsecured creditors an estimated 36 percent of their alleged losses.
July 01, 2013
ResCap Noteholders Say $1.8B Claim Must Be Allowed

UMB Bank NA and a group of junior secured noteholders on Friday urged a New York bankruptcy judge to find that Residential Capital LLC owes them nearly $1.8 billion related to a set of bonds and to reject the mortgage servicer's contention that their claims are undersecured.
June 27, 2013
ResCap Would Have Won On $3B Ally Claims, Examiner Says

Bankrupt mortgage company Residential Capital LLC would have likely prevailed on more than $3.1 billion in legal claims against its former parent Ally Financial Inc. if it had pursued the claims in court instead of settling them, according to an independent examiner's report unsealed Thursday.
June 26, 2013
ResCap's $2B Ally Deal Approved, Examiner Report Unsealed

Residential Capital LLC and its former parent Ally Financial Inc. on Wednesday saw their $2.1 billion settlement with creditors who threatened to take Ally to court over ResCap's bankruptcy approved, securing a significant step toward a Chapter 11 plan confirmation.
June 24, 2013
ResCap Balks At Credit Union's $200M In Claims

Bankrupt Residential Capital LLC on Thursday urged a New York bankruptcy court to disallow and expunge $200 million in claims submitted by the National Credit Union Administration over alleged residential mortgage-backed securities fraud, saying the claims are baseless and barred by the statute of limitations.
June 14, 2013
ResCap Examiner Report Should Be Unsealed: US Trustee

Mortgage lender Residential Capital LLC can't hide the details of an examiner's report on its prebankruptcy asset transfers to former parent Ally Financial Inc. any longer, the U.S. Trustee argued Thursday, joining with bondholder Berkshire Hathaway Inc. in demanding the report be unsealed.
June 12, 2013
ResCap Gets Court Approval To Pay $1.1B Ally Debt

Residential Capital LLC on Wednesday secured a New York bankruptcy judge's approval to make an early $1.1 billion debt payment to former parent Ally Financial Inc., despite an objection from bondholder Berkshire Hathaway Inc., saying the financial benefit to the estate outweighs any potential risks.

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