GMAC’s Creditors

The case is In re: Residential Capital LLC, U.S. Bankruptcy Court, Southern District of New York, No. 12-12020.

GMAC’s bankruptcy filings reveal that Deutsche Bank is listed as its largest unsecured creditor.

Also, as American Banker reports here:

Other large creditors include Bank of New York Mellon, U.S. Bank, and several bond insurers including MBIA and Ambac. Fannie Mae/Freddie Mac regulator, the Federal Housing Finance Agency, is also listed as a top creditor. But in the case of the FHFA and the bond insurers no debt amount is listed.

The filing only says that these debtors are owed money due to “contingent claim—securitization.”

 Nine creditors of Residential Capital LLC, including AIG, were selected to join the unsecured creditors committee for the mortgage lender’s bankruptcy.

Other committee members include Bank of New York Mellon Corp , Deutsche Bank AG, bond insurers Financial Guaranty Insurance Co and MBIA Inc, and US Bancorp.

Also on the committee is a representative for plaintiffs in separate mortgage lending litigation.

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One thought on “GMAC’s Creditors

  1. Hello, I’m attempting to find out the answer to a specific question. Wondering if you can help?
    If a homeowner in CA. claimed Chapter 7 bankruptcy, went through the Federal Court system, and all debt was “discharged” by the Judge……. would the mortgage loan also be discharged if it was claimed as unsecured, fee simple debt and the Banks involved did not contest or file a motion against said claim during the allowed amount of time to contest it before discharge of debt was final? Thank you.

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