Berkshire seeks independent examiner in ResCap case, pre-bankruptcy deals with Ally are "potentially improper"

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Berkshire seeks independent examiner in ResCap case, pre-bankruptcy deals with Ally are “potentially improper”

Berkshire seeks independent examiner in ResCap case, pre-bankruptcy deals with Ally are “potentially improper”

Why do we get a feeling, Buffet will get as he wishes?

Reuters-

Warren Buffett’s Berkshire Hathaway Inc has asked a U.S. court to appoint an independent examiner in the Residential Capital LLC (ResCap) bankruptcy case to investigate some transactions between the company and its parent.

Berkshire, a major ResCap creditor which tried to buy the company before it filed for bankruptcy, termed the transactions with Ally Financial Inc “potentially improper” and said the examiner should evaluate potential claims arising from them.

ResCap, which is Ally Financial’s mortgage unit, filed for bankruptcy protection last month. Ally, the former in-house financing arm for General Motors Co, had said it would sell some international operations to help repay $12 billion in U.S. government bailout money.

[REUTERS]

image: theblaze.com

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