Tokyo District Court selected a subsidiary of GMAC Commercial Holding Corp., GMACCM Japan KK, last Friday to submit a plan for the restructuring of Tokyo-based Japan Asset Management K.K., a company that recently went bankrupt.

The plan, if approved, would likely involve several worldwide securitization deals, said Scott Rombach, a GMAC spokesman. However, due to the lag of legal processes, he stressed an uncertain time frame.

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