Relevant:
- Ally Said to Get ResCap Bondholder Backing for Bankruptcy
- Ally Financial's ResCap Wants to End Foreclosure Review Process
- Hedgie who owns debt in ResCap asking political rival for help keeping lender out of bankruptcy
- Ally Financial: IPO... Or Bankruptcy?
- ResCap Bondholders Pull Support for Unit's Reorganization
2012-05-07 — bloomberg.com
The Treasury will support the decision of directors at Ally and ResCap if they decide a bankruptcy filing is the best course of action, said the official, who asked for anonymity because the arrangements haven't been made public. The approval is conditioned on a review of final terms, the person said.
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