The US Bankruptcy Court approved the sixth amended plan of liquidation of Residential Capital, LLC on December 11, 2013. As per the plan, the administrative expenses claims of GMACM debtors of $836.30 million and administrative expenses claims of RFC debtors of $249.80 million, shall be paid in full in cash. Professional claims and U.S. trustee fees will be paid in full in cash.

The priority tax claims, for the amount of $5.31 million, shall be paid in full in cash. Other priority claims of GMACM debtors, for the allowed amount of $0.13 million, shall receive in full in cash. Other priority claims of RFC debtors, for the allowed amount of $0.01 million, shall receive in full in cash.

Other secured claims of ResCap debtors, for the amount of $0.01 million, will be paid in full in cash or collateral shall be surrendered. Other secured claims of GMACM debtors, for the allowed amount of $0.04 million, shall receive in full in cash or collateral shall be surrendered. Other secured claims of RFC debtors, for the allowed amount of $0.01 million, shall receive in full in cash or collateral shall be surrendered.

Rescap's Allowed Private Security Claims Rescap & Allowed Borrower Claims will be paid in cash. Junior secured notes claims of ResCap debtors, junior secured notes claims of GMACM debtors and junior secured notes claims of RFC debtors, shall be paid in full in cash. The total claim amount would be of $2553 million.

The estimated recovery for ResCap debtors, GMACM debtors and RFC debtors will be 8%, 62% and 30% of the allowed amount, respectively. ResCap unsecured claims, for the allowed of $2060.40 million, will receive 41.9% of the allowed claim. The recovery will be pro rata share of unit share of unit distribution.

GMACM unsecured claims, for the allowed amount of $2205.07 million, shall receive 34.7% of the allowed claim. The recovery will be pro rata share of unit share of unit distribution. RFC unsecured claims, for the amount of $9063.78 million, shall receive 10.3% of the estimated amount of claims. The recovery will be pro rata share of unit share of unit distribution.

General unsecured convenience claims of ResCap debtors, for the allowed amount of $0.3 million, will receive 36.3% of the allowed amount in cash. General unsecured convenience claims of GMACM debtors, for the allowed amount of $2.5 million, will receive 30.1% of the allowed amount in cash. General unsecured convenience claims of RFC debtors, for the allowed amount of $0.70 million, will receive 9% of the allowed amount in cash.

Equity interests will receive no distribution and shall be cancelled under the plan. There are no borrower claims of ResCap debtors. Borrower claims of GMACM debtors, for the amount of $88.57 million, shall receive 30.1% of the allowed amount.

The claims shall receive allocated share of cash available from borrower claims trust. Borrower claims of RFC debtors, for the amount of $333.09 million, shall receive 9% of the allowed amount. The claims shall receive allocated share of cash available from borrower claims trust.

There are no private securities claims, NJ carpenters claims and revolving credit facility claims. ETS Unsecured Claims will be allowed in an amount of $4.90 million and will be paid in full in cash. There are no FHFA claims under the plan, provided, that if Court determines the claims then the estimated claims shall receive 3% of the allowed amount. Intercompany balances shall not receive any distribution under the plan.

The cornerstone of the Global Settlement is the $2.1 billion contribution by Ally to the estate assets in exchange for the Debtor release and Third Party releases. Through the negotiation process, the parties determined to allocate the Ally Contribution as follows $782.7 million to ResCap Debtors, $462.3 million to GMACM Debtors & RFC Debtors each, $235 million to Private Securities Claims Trust, $57.6 million to Borrower Claims Trust, & $100 million to NJ Carpenters Claims Distribution. Allowed Non Subordinated General Unsecured Claims Against GMACM & RFC of Assured in amount of $146.82 million and Ambac in amount of $230.12 will receive pro rata distribution from the liquidation trust.

The plan shall get effective on or before earliest of 30 days after plan confirmation or December 15, 2013. As per the Global Settlement, Ally Financial Inc will contribute $2.10 billion to the debtor in exchange for the Debtor release and Third Party releases. Through the negotiation process, the parties determined to allocate the Ally Contribution as follows $782.4 million to ResCap Debtors, $462.32 million to GMACM Debtors & RFC Debtors each, $235 million to Private Securities Claims Trust, $57.62 million to Borrower Claims Trust, & $100 million to NJ Carpenters Claims Distribution.