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:

October 23, 2013
FHFA Joins Opposition To ResCap Ch. 11 Plan

The Federal Housing Finance Agency objected Tuesday to Residential Capital LLC's Chapter 11 plan, arguing that it fails to provide the agency its claim of first priority to payment and unfairly gives it a smaller distribution percentage than the general unsecured creditors will receive.
October 21, 2013
Insurers, Mortgage Lender Challenge ResCap Ch. 11 Plan

Objections to Residential Capital LLC's Chapter 11 plan came piling in Monday afternoon challenging provisions that the opponents say prohibit claims against the fallen mortgage lender's former parent and don't allow adequate protection for insurers.
October 15, 2013
ResCap Slams Bondholders' Bid For Higher Payout

Residential Capital LLC and its unsecured creditors on Tuesday kicked off their bid to keep an ad hoc group of junior secured noteholders from obtaining post-petition interest on the debt they hold by arguing that the noteholders are more than $500 million undersecured.
October 09, 2013
ResCap Judge OKs $2M Bonus For Restructuring Chief

Residential Capital LLC on Wednesday received court approval to amend its chief restructuring officer's compensation agreement to allow a $2 million bonus to be paid once the fallen mortgage servicer's proposed plan goes into effect.
October 02, 2013
ResCap Seeks $2M Bonus For Chief Restructuring Officer

Residential Capital LLC on Friday asked a judge to approve a $2 million bonus for its chief restructuring officer, saying his leadership has been key to major settlements between ResCap, its creditors and other stakeholders and the overall progress of ResCap's bankruptcy proceedings.
September 13, 2013
ResCap Gets Green Light For $597M Settlement With FGIC

A New York bankruptcy judge on Friday approved a settlement between Residential Capital LLC and Financial Guaranty Insurance Co. that slashes the bond insurer’s multibillion-dollar claims against bankrupt ResCap to $596.5 million.
September 10, 2013
MoFo Agrees To Trim $23M Bill In ResCap Bankruptcy

Morrison & Foerster LLP agreed Monday to marginally reduce what is expected to be a nearly $23 million bill in Residential Capital LLC's New York bankruptcy proceedings, arguing that the attorneys' fees are a product of a complex case that has required several professionals.
September 03, 2013
ResCap Discovery Rules OK'd Over Bondholders' Protests

A New York bankruptcy judge on Tuesday signed off on Residential Capital LLC's proposed guidelines for discovery related to plan confirmation, despite pushback from a group of junior secured noteholders who contended the guidelines may keep them from accessing certain information.
August 30, 2013
ResCap Gets A Leg Up In Bondholder Interest Fight

Residential Capital LLC on Thursday moved ahead in its battle against a group of junior secured noteholders over the value of certain liens and interest on their debt after a judge threw out several counterclaims the JSNs lobbed at the fallen mortgage servicer.
August 29, 2013
ResCap Attacks Bondholders' Challenge To Discovery Rules

Residential Capital LLC on Thursday slammed efforts by a group of junior secured noteholders to ease the discovery process tied to the bankrupt mortgage servicer's Chapter 11 plan, saying they are trying to disrupt and delay the proceedings.

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