Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) has asked for the release of an independent examiner’s report on how Ally Financial Inc (NYSE:GMA) (NYSE:GKM) and its mortgage unit Residential Capital, dealt before the later filed for bankruptcy in 2012. The Omaha, Nebraska-based company said that the report will help it determine whether a bankruptcy settlement between the two companies is fair.

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Last week, the timely release of the report accelerated settlement negotiations involving ResCap, Ally Financial and the creditors of ResCap. The U.S. Bankruptcy Judge Martin Glenn ordered the report to be filed under seal and its details be kept confidential until July 3 as long as ResCap continues to make progress.

However, Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) said yesterday that release of the report was necessary for creditors to assess if the pending settlement is fair. Last summer, it was Berkshire Hathaway that demanded the appointment of an independent examiner. Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) owns a large part of ResCap’s junior secured bonds. Last year, it acquired a portfolio of ResCap’s mortgage debts for $1.5 billion during a bankruptcy auction.

ResCap, which was once one of the largest mortgage firms in the United States, was forced to file for Chapter 11 bankruptcy on May 2012 amid mounting litigation over soured mortgage securities.

Ally Financial Agrees To Pay $2.1 Billion To Settle Legal Claims:

In a filing with the U.S. Bankruptcy Court, Ally Financial agreed to pay $2.1 billion to settle all the legal claims related to ResCap. Ally Financial Inc (NYSE:GMA) (NYSE:GKM) had earlier offered to pay $750 million to get rid of all the ResCap related liabilities. But ResCap creditors refused to accept that because it was far too small amount compared to the subprime mortgage unit’s total liabilities of $25 billion.

The agreement would grant Ally Financial Inc (NYSE:GMA) (NYSE:GKM) a release from all the ResCap related liabilities. Ally Financial Inc (NYSE:GMA) (NYSE:GKM) said it now wants to put the issue behind them and focus on its core business and repayment of $17 billion bailout loan to the U.S. government. Ally is yet to repay over $10 billion, plus the government owns 74 percent stake in the company.

Under the deal announced today, Ally Financial Inc (NYSE:GMA) (NYSE:GKM) will pay $1.95 billion in cash and another $150 million will come from insurers. The agreement is yet to be approved by the court.