The U.S. Bankruptcy Court the motion filed by Residential Capital’s examiner for entry of an order granting discharge from duties, immunity from discovery, approval of disposition of investigative materials and exculpation in connection with duties. As previously reported, “The Proposed Order would (i) discharge the Examiner from all further duties related to the Chapter 11 Cases, the Examiner Investigation, and the Examiner Report…(ii) grant the Examiner and his Professionals relief and immunity from all discovery or process in any legal proceeding, thereby precluding any party, including all interested parties in these Chapter 11 Cases, from issuing or serving upon the Examiner or his Professionals any trial or hearing subpoenas, or any formal or informal discovery request, relating to (among other things) the Examiner Investigation, the Examiner Report or any documents obtained or created by the Examiner or his Professionals, including, but not limited to, any request for production of documents, requests for admissions, interrogatories, subpoenas duces tecum, deposition subpoenas, requests for testimony, or any other discovery of any kind related to the Chapter 11 Cases, the Examiner Investigation, and the Examiner Report; (iii) authorize the Examiner and his Professionals to transfer custody and control of the Document Depository to an interested party of the Court’s designation; (iv) require the Examiner and his Professionals to preserve only witness interview transcripts and recordings for two years (or until further ordered by the Court); and (v) exculpate the Examiner and his Professionals from all actual or potential liability in connection with the Chapter 11 Cases, including as relating to the Examiner Investigation and the Examiner Report.”
About Brandy Chetsas
Brandy L. Chetsas is editor in chief at Bankrupt Company News. She joined New Generation Research, Inc. in 1998. As Director of Strategic Content, she leverages 20+ years of communications and project management experience for the distressed investing sector–with particular expertise on corporate restructurings via Chapter 11. Brandy began her career writing for a law enforcement-related publication and teaching English courses at numerous colleges in the U.S. and abroad.