Ally Financial News
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Federal Reserve Vice Chairman Janet Yellen is seen by a third of international investors as the most likely to take the helm of the central bank when Ben S. Bernanke’s term ends in January.
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Ally Financial Inc. moved closer to repaying a U.S. bailout as the auto lender reached agreement with creditors of its bankrupt mortgage unit.
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Residential Capital LLC and its biggest unsecured creditors signed a deal to free the mortgage company’s parent, Ally Financial Inc., from the threat of billions of dollars in bankruptcy-related lawsuits.
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Ally Financial Inc. reached a deal to avoid creditor lawsuits related to the company’s bankrupt mortgage arm, Residential Capital LLC, said Howard Seife, a lawyer for the court-appointed examiner investigating the two companies’ pre-bankruptcy relationship.
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An investigative report on Ally Financial Inc.’s relationship with its bankrupt mortgage arm, Residential Capital LLC, may affect settlement talks between the companies and creditors who blame Ally for $25 billion in potential claims.
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Ally Financial Inc., the auto lender owned by U.S. taxpayers, may learn today how hard it will be to escape $25 billion in claims made against its bankrupt mortgage arm, Residential Capital LLC.
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Cerberus Capital Management LP is entering the booming market for single-family homes to rent, planning to lend billions of dollars to investors too big for government programs and too small to get Wall Street funding.
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A report on Residential Capital LLC’s pre-bankruptcy deals with parent Ally Financial Inc. will be filed with the court on May 10, lawyers for the retired judge leading the probe said in a filing.
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Residential Capital LLC, the bankrupt mortgage company indirectly owned by the U.S. government, asked a judge for permission to pay two unnamed senior executives $136,000 each in severance pay.
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Residential Capital LLC, the bankrupt mortgage company, won more time to file an exclusive plan to reorganize while it attempts to settle a dispute between creditors and parent Ally Financial Inc.
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