Mealey's Bankruptcy - Residential Capital Affiliate: $500M Case Against UBS Should Not Be Remanded

NEW YORK - Residential Funding Co. LLC (RFC), an affiliate of bankrupt Residential Capital LLC (ResCap), on May 28 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York opposing a motion by UBS Real Estate Securities Inc. (UBS) that seeks to remand RFC's adversary action related to loans valued in excess of $500 million that UBS sold to RFC prior to bankruptcy (Residential Funding Company LLC v. UBS Real Estate Securities Inc. [In Re: Residential Capital LLC], No. 12-12020, Adv. No. 14-01926, Chapter 11, S.D. N.Y. Bkcy.).

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