Bankruptcy Judge Martin Glenn said yesterday that he would appoint an independent examiner to investigate the bankruptcy of home lender Residential Capital LLC, a move that was sought by Warren Buffett's Berkshire Hathaway Inc., Reuters reported yesterday. ResCap, the mortgage unit of Ally Financial, the former in-house financing arm of General Motors Co, filed for bankruptcy last month with a plan that included selling two groups of assets to two buyers: Nationstar Mortgage Holdings and Ally. Berkshire Hathaway is also seeking to buy parts of ResCap. It has said that the pre-bankruptcy financial transactions between ResCap and Ally were "potentially improper." Berkshire, a significant holder of ResCap's debt, has proposed that it be the stalking-horse bidder for ResCap's mortgage loan operations.
