Tag Archives: Ally

U.S. Treasury denies allowing ‘excessive’ executive pay at GM, Ally

By Paul Lienert and Bernie Woodall

DETROIT, Sept 24
Wed Sep 24, 2014 12:00pm EDT

DETROIT, Sept 24 (Reuters) – The U.S. Treasury last year
permitted top executives at General Motors Co and Ally
Financial Inc to collect “excessive pay” while those
companies were part of a taxpayer-funded government

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FHFA can sue Ally despite ResCap bankruptcy, judge rules

Mon Aug 12, 2013 5:44pm EDT

* Automatic stay in bankruptcy cannot be invoked

* FHFA sued Ally over $6 bln securities sold to Freddie Mac

Aug 12 (Reuters) – The Federal Housing Finance Agency may pursue a fraud lawsuit against Ally Financial Inc even though Ally’s Residential Capital

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ResCap Bankruptcy Exit to Halt Am Law Firms’ Fee Feast

When Residential Capital LLC, once the fifth-largest mortgage servicer in the U.S., filed a plan of reorganization Thursday that called for unsecured creditors to recover 36.3 cents per dollar owed, the company moved a giant step closer to exiting bankruptcy.But for the dozen-plus law firms and hundreds of lawyers

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Ally’s ResCap unit files bankruptcy plan

* Aug. 21 hearing to approve disclosure statement

* ResCap sought Chapter 11 as mortgage liabilities grew

By Jonathan Stempel

July 5 (Reuters) – Residential Capital LLC, the mortgage lending unit of U.S. government-owned Ally Financial Inc , has filed a bankruptcy reorganization plan that calls for unsecured creditors

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UPDATE 2-Ally’s $2.1 bln payment to ResCap gets court’s OK

Wed Jun 26, 2013 6:09pm EDT

* ResCap had “unreasonably” small amount of capital -report

* ResCap still needs formal plan to exit bankruptcy

* Ally still owes U.S. $10 bln on $17 bln bailout loan

By Nick Brown

NEW YORK, June 26 (Reuters) – A bankruptcy judge on

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BRIEF-Bankruptcy judge approves Residential Capital’s $2.1 bln settlement with Ally Financial

Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to

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Ally’s $2.1 bln payment to ResCap gets court approval

NEW YORK, June 26 | Wed Jun 26, 2013 1:16pm EDT
NEW YORK, June 26 (Reuters) – A bankruptcy judge on Wednesday approved a settlement in which the U.S. government-owned Ally Financial Inc will pay $2.1 billion to its bankrupt Residential Capital LLC unit.Judge Martin Glenn also said he

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Ally Makes Peace with ResCap, Creditors for $2.1 Billion

Copyright 2013.ALM Media Properties, LLC. All rights reserved.

Originally posted here: Ally Makes Peace with ResCap, Creditors for $2.1 Billion

weight loss tips

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Ally settlement may be a boon for ResCap bondholders

Thu May 23, 2013 5:52pm EDT

* Paulson, hedge funds will likely make profit on settlement

* MBIA, FGIC to recoup about $1 billion

* Ally to contribute $2.1 billion to ResCap creditors

By Nick Brown

NEW YORK, May 23 (Reuters) – While bond insurers MBIA Inc and FGIC

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UPDATE 2-Ally to pay $2.1 bln to settle claims tied to ResCap

Thu May 23, 2013 1:24pm EDT

* Ally expects 2nd-qtr charge of $1.55 bln

* MBIA to have unsecured claims of $3.6 bln

* RMBS investors’ claims reduced to $7.3 bln from $8.7 bln

By Tom Hals

May 23 (Reuters) – Ally Financial Inc agreed on Thursday to pay

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Small Virginia Firm and Solo Shop Beckon Reed Smith Litigators

Brian Baxter, The Am Law Daily

November 20, 2014

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Two Reed Smith partners have left the firm for

Law and Football: Rankings Doublethink

Steven J. Harper is an adjunct professor at Northwestern University and author of “The Lawyer Bubble: A Profession in Crisis” (Basic Books, April 2013), and other books. He retired as a partner at Kirkland & Ellis in 2008 after 30 years in private practice. His blog about the legal

Key Ruling Brings Thelen Bankruptcy Closer to Conclusion

Julie Triedman, The Am Law Daily

November 21, 2014

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A bankruptcy judge in Manhattan brought Thelen LLP a

Volatility to shut sub bond market till 2015

Fri Nov 21, 2014 10:59am EST

* Deutsche Bank and Erste find lacklustre demand
* Investors baulk at volatile secondary marketBy Aimee Donnellan and Alice GledhillLONDON, Nov 21 (IFR) – Banks may have to wait until 2015 to
fortify their balance sheets with subordinated bonds as the
latest bout

Simpson Thacher Sets High Bar With Associate Bonuses

Nathalie Pierrepont, The Am Law Daily

November 21, 2014

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Cravath, Swaine & Moore has long kicked off associate