ResCap Creditors Fight CFO Testimony In RMBS Trial

Law360, New York (May 6, 2013, 10:09 PM EDT) -- Unsecured creditors of mortgage servicer Residential Capital LLC on Monday urged the New York bankruptcy judge overseeing its Chapter 11 proceedings to bar its chief financial officer from testifying at an upcoming trial over a $9 billion residential mortgage-backed securities deal.

The official committee of unsecured creditors claims the announcement of CFO James Whitlinger as a so-called rebuttal witness for the trial was not only submitted well past the deadline for such testimony, but is not in fact a “rebuttal” at all.

The trial, which has...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.