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Residential Capital

The firm was co-counsel to the creditors’ committee appointed in the chapter 11 case of Residential Capital, LLC (“ResCap”), formerly known as GMAC Mortgage, the subprime mortgage subsidiary of government-owned Ally Financial, formerly known as GMAC, and various affiliates. The debtors reported total assets and liabilities of approximately $15 billion. The firm represented the committee in litigation over challenges to liens purporting to secure debts owed to certain noteholders in excess of $2 billion.