Reuters logo
BRIEF-Residential capital llc asks US bankruptcy court to approve Ally settlement
May 23, 2013 / 1:10 PM / 5 years ago

BRIEF-Residential capital llc asks US bankruptcy court to approve Ally settlement

May 23 (Reuters) - Ally Financial Inc: * Residential capital llc asks US bankruptcy court to approve settlement with

Ally Financial Inc * Ally financial inc to increase contribution to residential capital llc estate

to $2.1 billion - court docs * Ally financial inc settlement to be $1.95 billion in cash, $150 million

anticipated from ally’s insurers- court docs * Residental capital says settlement signals end to litigation, parties agree

to support chapter 11 plan for rescap - court docs * Residental capital says settlement will determine allocation of proceeds

among debtors and creditors - court docs * Residental capital says settlement will create various trusts to provide

distributions to creditors - court docs * Mbia gets non-subordinated unsecured claim of $719 million versus rescap,

$1.45 billion versus gmacm debtors, $1.45 lbn versus rfc -court docs

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below