The Daily Docket: ResCap Files Exit Plan

Mortgage lender Residential Capital filed a bankruptcy-exit plan that would pay general unsecured creditors 36.3 cents on the dollar and free government-owned parent Ally Financial Inc. from any more obligations in the case. Read the Daily Bankruptcy Review article here.

Renewable-energy company Hoku Corp. filed for bankruptcy liquidation in Idaho, where it struggled to find money to finish a $700 million polysilicon plant after the price for that solar panel ingredient collapsed in a global oversupply. Read DBR article via The Wall Street Journal.

A bankruptcy judge cleared iGPS Co. to auction its assets later this month over the objection of the company’s unsecured creditors, who complained that the plastic-pallet supplier’s proposed bidding rules were designed to “prevent a robust auction.”The DBR Small Cap article is available here.

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Reuters has more on the bankruptcy of Montenegro-based aluminum plant Kombinat Aluminijuma Podgorica, the country’s biggest employer.

Detroit sued bond insurer Syncora Guarantee Inc., accusing it of trying to block $170 million in tax revenue from the city, WSJ reports.

San Bernardino, Calif., wants a judge to nix objections to its bankruptcy eligibility by two public pension funds, Bloomberg reports.

Fiat SpA wants to buy more in Chrysler Group LLC, WSJ reports.

The New York Times looks at the financial struggles of Revel casino.

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa.