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Lending / The Ticker

Berkshire Hathaway slows ResCap bankruptcy, wants probe

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Berkshire Hathaway requested this week that a court appoint an independent examiner to probe into Residential Capital LLC's bankruptcy. Specifically, Warren Buffet's investment firm wants to investigate transactions between the mortgage lender and its parent company, Ally Financial.

Berkshire Hathaway is a major ResCap creditor.

ResCap, the mortgage subsidiary of Ally Financial, drew Berkshire Hathaway's ire in bankruptcy court over allegations from Berkshire that the ResCap bankruptcy contained improper transactions.  

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