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AICPA Forensic & Valuation Services Conference 2013 - Virtual

A Case Study: The Residential Capital LLC Bankruptcy - The Examiner's Investigation

‐ Nov 10, 2013 5:35pm

At the time of its bankruptcy filing on May 14, 2012, Residential Capital LLC et al. ("ResCap") was the fifth-largest servicer of residential mortgage loans in the United States, servicing about $374 billion of domestic residential mortgage loans and working with more than 2.4 million homeowners across the United States, and the 10th-largest originator of residential mortgage loans in the United States. Arthur J. Gonzalez, a former bankruptcy judge in the Southern District of New York, was appointed by the bankruptcy court as examiner in July 2012 and issued his report in May 2013. This session will provide a case study by the examiner's professionals from Chadbourne & Parke and Mesirow Financial Consulting, describing the examiner's investigatory process and results. Attendees will learn about:
- The role of an examiner or as a professional to an examiner in bankruptcy
- The investigatory process used by an examiner, including document discovery, interviews, depositions, submissions, meetings with constituents and other forensic tools
- The forensic investigation of potential causes of action and activities of the officers and directors
- The forensic investigation of estate causes of action
- The forensic investigation regarding the release of claims held by third parties against AFI and any officers, directors and shareholders


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