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ResCap resolves bondholder objection to Chapter 11 exit -source

Tuesday, 3 Dec 2013 | 1:19 PM ET

NEW YORK, Dec 3 (Reuters) - Bankrupt mortgage lender Residential Capital LLC has struck a deal with a class of bondholders to resolve the group's objection to its plan to exit bankruptcy, according to a source familiar with the matter.

The news came as ResCap filed court papers on Tuesday outlining a new exit plan which includes a $125 million payment to the bondholder group that was not in previous versions of the plan.

Lawyers for ResCap and the bondholders did not immediately respond to requests for comment. A hearing on ResCap's latest bankruptcy exit plan was scheduled for 2 p.m. EST (1900 GMT) in U.S. Bankruptcy Court in New York.