July 03, 2012
A New York bankruptcy judge on Tuesday named the former chief bankruptcy judge in Manhattan as the independent examiner to investigate Residential Capital LLC's transactions with parent Ally Financial Inc. and any settlements reached in connection with its Chapter 11 filing.
June 19, 2012
Following an intense bidding war, a New York bankruptcy judge on Tuesday approved two stalking horses for Residential Capital LLC assets — Nationstar Mortgage LLC for its mortgage loan servicing business and Berkshire Hathaway Inc. for its legacy loan portfolio.
June 18, 2012
A New York bankruptcy judge granted Berkshire Hathaway Inc.'s request Monday to appoint an independent examiner to investigate Residential Capital LLC's transactions with parent Ally Financial Inc. and any settlements reached in connection with its Chapter 11 filing.
June 15, 2012
Residential Capital LLC reiterated its request Thursday that a New York bankruptcy judge let parent Ally Financial Inc. and a Fortress Investment Group LLC unit act as stalking horse bidders in planned auctions, opposing Berkshire Hathaway Inc.'s bid to step into the role.
June 12, 2012
Residential Capital LLC on Monday reached a settlement in its New York bankruptcy with holders of residential mortgage-backed securities, seeking court approval to grant to certain securitization trusts an $8.7 billion allowed claim against two debtor entities.
June 11, 2012
Residential Capital LLC's Chapter 11 asset sale plans don't address privacy concerns over assets containing customers' personal information, and include terms that could deter rival bidders to a planned $2.3 billion asset sale to Fortress Investment Group LLC, a U.S. trustee said Monday.
June 05, 2012
Berkshire Hathaway Inc. asked a New York bankruptcy judge on Monday to appoint an independent examiner to look into Residential Capital LLC's transactions with parent Ally Financial Inc. and any settlements reached in connection with a Chapter 11 plan it's seeking to confirm on an expedited basis.