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:

June 23, 2014
ResCap Judge Tells Ally Mortgage Claimants To Back Off

A New York bankruptcy judge on Friday held that a California lawsuit saying Ally Financial Inc. is liable for the alleged mishandling of mortgages related to Residential Capital LLC entities must be thrown out because ResCap's bankruptcy plan explicitly protected Ally from such claims.
June 11, 2014
ResCap Objects To $1M In 'Unnecessary' Morrison Cohen Fees

The liquidating trust of Residential Capital LLC on Tuesday filed an objection in New York bankruptcy court over nearly $1 million in attorneys' fees paid to Morrison Cohen LLP, claiming it was being charged for double-billed hours and unnecessary work.
May 14, 2014
ResCap Trust Sues BofA, RBC Over Bad Loans

The liquidating trust of Residential Capital LLC filed a slew of adversary suits in New York bankruptcy court Tuesday against Bank of America NA, RBC Mortgage Corp. and other financial institutions over defective residential mortgage loans sold to ResCap.
March 05, 2014
ResCap Examiner To Produce Testimony For RMBS Probe

The examiner who oversaw an investigation into Residential Capital LLC's finances during its Chapter 11 case agreed Wednesday at a New York bankruptcy court hearing to hand over testimony he obtained to the U.S. attorney's office in Los Angeles, for a separate investigation concerning residential mortgage-backed securities.
January 30, 2014
ResCap Judge Says $2M CRO Bonus Not Tied To Hourly Pay

A New York bankruptcy judge on Thursday appeared amenable to Residential Capital LLC's request to pay its chief restructuring officer a $2 million bonus, indicating that he was not persuaded by arguments that the bonus would more than double the CRO's hourly pay.
January 27, 2014
ResCap Says Restructuring Chief Deserves $2M Bonus

Attorneys for Residential Capital LLC on Friday threw their weight behind a bid to pay the defunct mortgage servicer's chief restructuring officer a $2 million bonus, shooting down protests from the federal government's bankruptcy watchdog.
January 03, 2014
Trustee Fights $2M Bonus For ResCap Restructuring Chief

The federal government's bankruptcy watchdog on Thursday urged a New York bankruptcy judge to reject a $2 million bonus lawyers for Residential Capital LLC are seeking for the defunct mortgage servicer's chief restructuring officer, saying it's far too generous.
December 17, 2013
ResCap Strikes Deals Resolving $247M In Borrower Claims

Attorneys for Residential Capital LLC on Monday announced four settlements worth a combined $1.1 million resolving putative borrower class actions that were pursuing claims of a combined $247 million against the defunct mortgage servicer's bankruptcy estate.
December 11, 2013
ResCap Ends Bankruptcy As Judge Confirms Liquidation Plan

Residential Capital LLC on Wednesday received a bankruptcy judge's approval of its liquidation plan a year and a half after it first entered Chapter 11 and just a week after an accord was reached with bondholders who were demanding more than $400 million in additional interest and fees.
December 03, 2013
ResCap, Bondholders Make Peace Over Ch. 11 Plan

Residential Capital LLC announced Tuesday it had reached a deal with a group of bondholders opposed to its liquidation plan, resolving a long-running feud over interest payments with a settlement that would see junior secured noteholders recover an additional $125 million.

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