Daily News: May 14, 2014

WSJ: ResCap Sues to Recover $20MM Paid Before Bankruptcy

The Wall Street Journal reported that Residential Capital is trying to attain more than $20 million from companies it did business with before its 2012 bankruptcy filing, including Xerox and First American Financial.

In 36 separate lawsuits filed Monday with U.S. Bankruptcy Court in Manhattan, the former mortgage services arm of Ally Financial Inc. is seeking money from parties that provided services to it in the three months before its May 14, 2012, Chapter 11 filing, the Journal reported.

To read the entire WSJ article (subscription required), click here.

Previously on abfjournal: Ally Financial to Pay ResCap $2.1B in Settlement, June 27, 2013