News

Ally hopes to end mortgage woes with ResCap bankruptcy - MSN Money

05/14/12

A bankruptcy of ResCap now will help Ally ... a trust for GM holds 9.9 percent and private equity firm Cerberus Capital Management owns 8.7 percent.

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UPDATE: Ally Financial: Rescap Mortgage Subsidiaries File Chapter 11 - NASDAQ

05/14/12

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 ...

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Ally Financial: Rescap Mortgage Subsidiaries File Chapter 11 - NASDAQ

05/14/12

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 ...

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Creditor committee unveiled in Jeffco bankruptcy case - Fox Birmingham

05/14/12

A bankruptcy court administrator has recommended a panel to represent all of Jefferson County's unsecured creditors. Those are companies or people who Jefferson County owes money to, but who do not have any collateral to help them get that money back.

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UPDATE: Ally Financial's ResCap Files Bankruptcy - StreetInsider.com

05/14/12

ResCap, like others in the mortgage industry, has faced continuing industry challenges, rising litigation costs and claims ... The settlements are subject to Bankruptcy Court approval. Given the support of Ally Financial, the debtholders, and other ...

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Ally Financial Announces Key Strategic Actions to Strengthen Company and Accelerate Ability to Repay U.S. Treasury - Yahoo Finance

05/14/12

ResCap mortgage subsidiaries file Chapter 11 Company launches process to explore strategic alternatives for its international businesses No impact on Ally's leading U.S. auto finance and direct banking businesses   Strengthens Ally's financial ...

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Gaia Real Estate and Starwood Capital Acquire 9,500 Unit Multifamily Portfolio via Chapter 11 Bankruptcy Auction - Yahoo Finance

05/14/12

NEW YORK and GREENWICH, Conn., May 14, 2012 /PRNewswire/ -- Gaia Real Estate and a controlled affiliate of Starwood Capital Group, a leading global private investment firm, announced today that they have agreed to invest $22.5 million of new ...

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Unions to present case in American Airlines' bankruptcy - The Business Journal

05/14/12

The unions representing workers at American Airlines American Airlines Latest from The Business Journals American agrees to study US Airways, other mergers AA pilots, flight attendants demonstrate against management American's passenger service agents seek ...

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Ally’s Residential Capital Files for Bankruptcy (Update 1) - Bloomberg

05/14/12

Bankruptcy would last 12 to 18 months and trigger billions ... Assets at ResCap, once one of the largest subprime mortgage originators, dwindled to $15.7 billion at the end of the first quarter from more than $130 billion in 2006.

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Bankruptcy case of Basic Element subsidiary to be heard on June 19 - rapsinews.com

05/14/12

ST. PETERSBURG, May 14 - RAPSI. The St. Petersburg and Leningrad Region Commercial Court will consider on June 19 an application by WestPromResurs for BaselCement's bankruptcy. BaselCement Pikalyovo, a Basic Element subsidiary owned by multimillionaire ...

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