ResCap Chapter 11: Enter The Mediator

A mediator was appointed to assist in the plan negotiation process in the Chapter 11 cases of Residential Capital, LLC.  The appointment came seven months after ResCap, a subsidiary of ALLY FINANCIAL, INC. (PINK:ALFI), sought protection under Chapter 11, after becoming a victim to the collapse of the residential market that rocked the country some years ago. Prior to filing for bankruptcy, ResCap was the fifth largest servicer of residential mortgage loans in the . . .


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