White-Collar Crime

Warren Buffett ’s Berkshire Hathaway Inc. was the winning bidder in a bankruptcy auction for a portfolio of loans from Residential Capital LLC , the subprime mortgage unit of government-owned Ally Financial Inc., ResCap said Thursday. Read the Daily Bankruptcy Review article via The Wall Street Journal.

A former Taylor Bean and Whitaker Corp. subsidiary is renewing its bid to probe whether Freddie Mac “aided and abetted” the multibillion-dollar bank fraud at the failed mortgage lender. Read the Daily Bankruptcy Review article here.

The fight to bring four marquee U.S. hotels out of bankruptcy is turning increasingly nasty, with a hedge fund accusing the company that oversees their mortgage debt of “bullying” management into accepting a $1.5 billion offer from Singapore’s sovereign wealth fund. Read the Daily Bankruptcy Review article here.

The feds will decide within six months whether those involved with New Stream Capital LLC will face criminal charges, but until then, founder David Bryson and other ex-employees will be taking the Fifth Amendment and refusing to answer questions about the “hedge fund” operation that dabbled in the life-settlement business, as well as T-shirts, jewelry operations and real estate, court papers say.

A majority of American Eagle pilots have voted in favor of a new labor agreement between their union and AMR Corp., the regional airline’s parent. Read the Daily Bankruptcy Review article here.