Retired U.S. Bankruptcy Court Judge Arthur J. Gonzalez, whose 2,200-plus page independent report concluded that ResCap parent Ally Financial Inc. didn't set its subsidiary up for failure as some creditors charged, said in a Friday filing that his work is done and that he would like to be relieved from his duties, Dow Jones Newswires reported yesterday. The lingering deadline for Gonzalez's report was considered a major factor in Ally's June settlement with creditors, which calls for the company to pay $2.1 billion to settle those creditors' claims. Bankruptcy Judge Martin Glenn allowed Gonzalez's report to be filed with the court confidentially at first as the sides finalized details on their settlement. In his filing on Friday, Gonzalez said that aside from being relieved, he wants the work done by himself and his hired professionals to be kept confidential and for them to be immune from future investigations regarding the report. He also said that to avoid "wasteful collateral litigation," he and his professionals shouldn't be considered liable for anything related to ResCap's chapter 11.
