US May Object To Proposed $130M ResCap Loan Auction

By Brian Mahoney ( January 11, 2013, 2:24 PM EST) -- U.S. Attorney Preet Bharara told a New York bankruptcy court Thursday that the government may object to a proposal by bankrupt Residential Capital LLC to auction off $130 million worth of loans insured by the Federal Housing Administration, saying such a sale may extinguish its debt setoff rights tied to the loans....

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