Tag Archives: Ally

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

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

Thu May 23, 2013 9:08am EDT
May 23 (Reuters) – Ally Financial Inc: * Residential capital llc asks US bankruptcy court to approve settlement withAlly Financial Inc * Ally financial inc to increase contribution to residential capital llc estateto $2.1 billion – court docs * Ally financial inc settlement

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Ninth Circuit Hikes Oracle’s Copyright Damages Against SAP

Marisa Kendall, The Recorder

August 29, 2014

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Detroit Bankruptcy Trial Steps into Uncharted Territory

Susan Beck, The Am Law Daily

August 30, 2014

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Ariz. Gun Range Death: Who’s Liable?

Law enforcement authorities have stated that no one will be charged criminally in the fatal shooting of an Arizona gun range instructor killed when a nine-year-old girl lost control of the fully automatic Uzi submachine gun she was firing, reports ABC News.
But accidents that cause death, even ones

Lifeguards and Liability: 3 Things Swimmers Should Know

Lifeguards may seem like towering figures with their tall posts and zinced noses, but they can be liable for swimming injuries and deaths when they make mistakes.
For this reason, lifeguards are required to be certified and trained to deal with common emergencies that occur in and around pools.

Bahrain Batelco says India ex-partner is bankrupt, seeks $212 mln owed

By Matt Smith

DUBAI
Sun Aug 31, 2014 4:30am EDT

DUBAI Aug 31 (Reuters) – Batelco will pursue its
former Indian business partner for $212 million it says he owes
the company, even though he was declared bankrupt last week, the
Bahraini telecom operator said on Sunday.
Chinnakannan Sivasankaran,