... tapped a three-member committee to represent unsecured creditor in Jefferson County's bankruptcy case. The Birmingham News reports that J. Thomas Corbett filed the recommendation last week. He stated in his recommendation that he asked for ...
DETROIT -- Ally Financial's troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on other operations and prevented it from repaying ...
Ally Financial Inc.'s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the ...
ResCap’s board voted to declare bankruptcy and arrange a sale to Fortress Investment Group LLC (FIG) and Nationstar Mortgage Holdings Inc. for about $2.3 billion, ResCap Chairman and CEO Thomas Marano, 50, said in an interview. Nationstar ...
Mike Carpenter, chief executive, said Ally was also putting its international business up for sale as part of an effort to repay ... that Bank of America could follow suit and try to use bankruptcy to shed the billions of dollars of possible liabilities ...
Ally Financial Inc.'s mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection. The government-owned lender had been weighing a bankruptcy filing for Residential Capital LLC for some time, as the division has been burdened by old ...
It is the seat of Jefferson County, which is mired in the biggest municipal bankruptcy in history thanks to billions of dollars of sewer bond debt. Tom Barnett, the city's finance director, said Friday that Birmingham could have
NEW YORK — Ally Financial Inc.’s mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection. The government-owned lender had been weighing a bankruptcy filing for Residential Capital LLC for some time, as the division has been ...
NEW YORK — Ally Financial Inc.'s mortgage division known as ResCap is seeking Chapter 11 bankruptcy protection. The government-owned lender had been weighing a bankruptcy filing for Residential Capital LLC for some time, as the division has been burdened ...
"While it is unfortunate that a Chapter 11 filing became necessary for ResCap, we believe that this action puts taxpayers in a stronger position to continue recovering their investment in Ally Financial," Treasury Assistant Secretary Timothy Massad said in a statement.
