The Wall Street Journal reported that Residential Capital is trying to attain more than $20 million the company paid prior to its 2012 bankruptcy filing, including Xerox and First American.
Reuters reported that a bankruptcy court judge approved a settlement in which government owned Ally Financial will pay $2.1 billion to its bankrupt unit Residential Capital.
Bloomberg reported that Residential Capital won court permission to repay more than $1.9 billion in debt immediately, including $1.1 billion to parent Ally Financial.
According to a Fox Business article, bankrupt Residential Capital is seeking more time to file its own plan of reorganization.
Bloomberg reported that unsecured creditors of its Residential Capital unit may sue Ally Financial which may owe $25 billion for creating a mortgage securitization mess.