Deals
ResCap Bondholders Pull Support for Ally Unit’s Bankruptcy
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Bondholders of Residential Capital LLC, the bankrupt mortgage unit of Ally Financial Inc., are ending an agreement to support its reorganization plan.
ResCap’s secured bondholders ended the agreement, Gina Proia, a spokeswoman for Detroit-based Ally, said yesterday in an e-mailed statement. The bankruptcy process continues to move forward, she said.