ResCap also is close to defaulting on a $20 million interest payment that was due on April 17. The payment, on $473 million in unsecured loans, can be made within 30 days of the due date, but it doesn't look like ResCap can pay.
The mortgage unit remains heavily reliant on Ally for funding "and there can be no assurance that Ally or its affiliates will continue such actions," the filing said.
ResCap also owes Ally roughly $1.9 billion, with $500 million of the debt unsecured. Ally said in the filing that may lose the money it loaned to ResCap as a result of the mortgage company's bankruptcy filing.
Detroit-based Ally anticipates taking an approximately $1.3 billion charge in the second quarter related to the ResCap filing.
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