Reuters: Bankruptcy News: Ally's $2.1 bln payment to ResCap gets court approval

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Ally's $2.1 bln payment to ResCap gets court approval Jun 26th 2013, 17:16 NEW YORK, June 26 | Wed Jun 26, 2013 1:16pm EDT NEW YORK, June 26 (Reuters) - A bankruptcy judge on Wednesday approved a settlement in which the U.S. government-owned Ally Financial Inc will pay $2.1 billion to its bankrupt Residential Capital LLC unit. Judge Martin Glenn also said he will unseal a report by a bankruptcy examiner probing Ally's role in ResCap's collapse. The report had been sealed as the parties hashed out a settlement. The deal is a key step in ResCap's eventual exit from Chapter 11 protection, and will allow Ally to focus on paying back the U.S. government roughly $10 billion outstanding on a $17 billion loan.

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