Investors holding at least $800 million of secured bonds in Residential Capital Corp. (ResCap) have organized in the event the mortgage firm's parent company, Ally Financial, throws the company into bankruptcy.

The investor group is being represented by the law firm of White & Case. In a statement issued Monday, the firm said, “Ally, Ally Bank and Rescap are too intertwined to be easily unwound. A forced Rescap filing would be a big mistake and create significant litigation against Ally."

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