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:

April 12, 2013
ResCap Judge Approves Up To $7.8M In Bonuses

Residential Capital LLC is clear to set aside nearly $8 million in bonuses for a group of employees and executives after a New York bankruptcy judge ruled Friday that the payments will help the company meet certain goals as the fallen mortgage servicer winds down its operations.
April 12, 2013
Ally Could Be On Hook For $25B, ResCap Creditors Say

Residential Capital LLC unsecured creditors on Thursday asked a New York bankruptcy judge for permission to sue ResCap's former parent Ally Financial Inc., saying the auto lender could be responsible for up to $25 billion for its role in ResCap's collapse.
April 11, 2013
ResCap Judge Leaves $8M In Bonuses Up In The Air

A New York bankruptcy judge on Thursday held off on approving nearly $8 million in bonuses for Residential Capital LLC employees and executives after questioning the fallen mortgage servicer's attorneys on whether the goals required for the recipients are challenging enough to warrant the pay.
April 09, 2013
ResCap Fires Back At US In Defense Of $8M In Bonuses

Residential Capital LLC on Tuesday defended its $8 million in bonuses for employees, saying a New York bankruptcy court should ignore the U.S. trustee's objection because the payments are needed to incentivize key workers to perform challenging tasks.
April 04, 2013
ResCap Can't Justify $8M Employee Bonuses, US Trustee Says

The U.S. Trustee's Office took issue Wednesday with part of a plan for bankrupt real estate financier Residential Capital LLC to pay nearly $8 million in employee bonuses as it goes through Chapter 11 proceedings, saying the compensation can't be justified.
March 21, 2013
Judge Questions ResCap Bid To Stop Foreclosure Reviews

A New York bankruptcy judge on Thursday put off ruling on Residential Capital LLC's request to stop performing foreclosure reviews that are costing it $300,000 a day, ordering the fallen mortgage servicer and its opponent Ally Financial Inc. to rethink their arguments.
March 05, 2013
ResCap Scores Extra 60 Days For Ch. 11 Plan Exclusivity

A New York bankruptcy judge on Tuesday allowed Residential Capital LLC another 60 days to submit a Chapter 11 plan without the threat of competing plans being filed after resolving the staunch opposition of a group of bondholders.
March 04, 2013
ResCap, Bondholders Spar Over Plan Talks, Filing Period

Neither Residential Capital LLC nor a group of junior bondholders are backing down in their dispute over the mortgage servicer's bid to extend its time to exclusively file a Chapter 11 plan, with the noteholders saying Monday that alternative plans should be considered immediately.
March 01, 2013
ResCap Creditors Sue UMB Bank, Wells Fargo Over Liens

Residential Capital LLC creditors on Thursday sued UMB Bank NA and Wells Fargo Bank NA saying certain property of the bankrupt mortgage servicer wasn't subject to liens, a day after ResCap urged a judge to hold that it doesn't have to conduct costly foreclosure reviews anymore.
February 20, 2013
ResCap Fights To Subordinate Insurers' Securities Claims

Residential Capital LLC filed an adversary suit against a slew of insurance companies and asset management companies in New York bankruptcy court on Tuesday seeking to subordinate the companies' so-called investor claims tied to $226 billion in allegedly faulty mortgage-backed securities.

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