Residential capital liquidating trust
¶¶ 58, 72.) The RFC petitions were administered jointly before Judge Glenn of the United States Bankruptcy Court for the Southern District of New York. The Plan preserved RFC's claims against the loan originators and assigned them to Res Cap. (In re Orion Pictures Corp.), 4 F.3d 1095, 1101 (2d Cir.1993)).
However, Res Cap's third argument — that this matter is a core proceeding because it is a counterclaim against an entity that filed a proof of claim — is correct. The Supreme Court held that under the plain text of § 157(b)(2)(C), a counterclaim filed by a debtor in response to a proof of claim is a core proceeding, id. Res Cap styled its Amended Complaint as a "counterclaim," and PHH Mortgage had filed its proof of claim before Res Cap filed the Amended Complaint. A, with Original Compl.) At least seventy related actions remain pending in the Minnesota courts. at 27.) On July 11, 2014, the defendant moved to withdraw the bankruptcy reference in this case pursuant to 28 U. § 157(d) and to transfer venue to the United States District Court for the District of Minnesota pursuant to 28 U. A, at 23, 26, 30, 32 (Mortgage Loan Flow Purchase, Sale & Servicing Agreement).) These agreements also include a mandatory forum-selection clause: Each of the parties irrevocably submits to the jurisdiction of any state or federal court located in Hennepin County, Minnesota, over any action, suit or proceeding to enforce or defend any right under this Contract or otherwise arising from any loan sale or servicing relationship existing in connection with this Contract, and each of the parties irrevocably agrees that all claims in respect of any such action or proceeding may be heard or determined in such state or federal court. ¶¶ 21-22.) When it resold and pooled the PHH Mortgage loans, RFC made a number of representations concerning their quality, for which it allegedly relied on PHH Mortgage's representations. ¶ 38.) Faced with numerous lawsuits because the loans in the RMBS trusts and loan pools defaulted, on May 14, 2012, RFC and fifty affiliated entities voluntarily filed petitions for relief under Chapter 11 of the United States Bankruptcy Code. PHH Mortgage filed a proof of claim, requesting 7,759 for expenses incurred from servicing twenty-nine loans on behalf of RFC. 7173.) Judge Glenn ultimately approved a global settlement relating to RFC's RMBS trusts liabilities, and on December 11, 2013, Judge Glenn confirmed the Debtor's Second Amended Joint Chapter 11 Plan (the "Plan").
Search for residential capital liquidating trust:
In 1982, Residential Funding Company LLC was formed as a subsidiary of Northwest Bank.