Reuters: Bankruptcy News: BRIEF-Residential capital llc asks US bankruptcy court to approve Ally settlement

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BRIEF-Residential capital llc asks US bankruptcy court to approve Ally settlement May 23rd 2013, 13:08 Thu May 23, 2013 9:08am EDT May 23 (Reuters) - Ally Financial Inc: * Residential capital llc asks US bankruptcy court to approve settlement with Ally Financial Inc * Ally financial inc to increase contribution to residential capital llc estate to $2.1 billion - court docs * Ally financial inc settlement to be $1.95 billion in cash, $150 million anticipated from ally's insurers- court docs * Residental capital says settlement signals end to litigation, parties agree to support chapter 11 plan for rescap - court docs * Residental capital says settlement will determine allocation of proceeds among debtors and creditors - court docs * Residental capital says settlement will create various trusts to provide distributions to creditors - court docs * Mbia gets non-subordinated unsecured claim of $719 million versus rescap,

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