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ResCap Trustee Says $18M Employee Bonus Plan Is Unlawful

By Jonathan Randles ( August 2, 2012, 5:15 PM EDT) -- The U. S. bankruptcy trustee for Residential Capital LLC objected to the troubled mortgage lender's plan to pay nearly 200 employees and executives up to $18 million in bonuses, saying the payments constitute an unlawful retention program. . . .

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