July 27 (Reuters) – Warren Buffett’s Berkshire Hathaway
(BRKa.N: Quote, Profile, Research) is bidding on a bankrupt mortgage lender that it may
not want, in what some investors and observers view as an effort
to make more money on Berkshire’s stake in the company’s bonds.

Berkshire has made two bids for Residential Capital, the
bankrupt unit of Ally Financial (GKM.N: Quote, Profile, Research) that makes loans and
collects payments on them. Both bids were topped by Nationstar
Mortgage Holdings (NSM.N: Quote, Profile, Research), which also makes and services loans.
An auction for the unit is due to start this fall.

By Ben Berkowitz and Caroline Humer

(Reuters) – Warren Buffett’s Berkshire Hathaway (BRKa.N: Quote, Profile, Research, Stock Buzz) is bidding on a bankrupt mortgage lender that it may not want, in what some investors and observers view as an effort to make more money on Berkshire’s stake in the company’s bonds.

Berkshire has made two bids for Residential Capital, the bankrupt unit of Ally Financial (GKM.N: Quote, Profile, Research, Stock Buzz) that makes loans and collects payments on them. Both bids were topped by Nationstar Mortgage Holdings (NSM.N: Quote, Profile, Research, Stock Buzz), which also makes and services loans. An auction for the unit is due to start this fall.

NEW YORK (Reuters) – The trial between oil and gas producer Anadarko Petroleum (APC.N: Quote, Profile, Research, Stock Buzz) and paint materials company Tronox Inc (TROX.N: Quote, Profile, Research, Stock Buzz) has been adjourned for one week so the two companies can try to hammer out a settlement of their $25 billion dispute, according to a court filing.

The news lifted shares of both companies with Anadarko climbing as much as 4.2 percent before easing to $68.20, up 2.4 percent. Tronox shares rose about 5 percent to $109.87.

NEW YORK, July 10 (Reuters) – A trustee representing
creditors of SemGroup LP sued Barclays Bank Plc
, seeking to be repaid a $143 million fee the bank
collected when it took over the energy company’s commodities
trading positions during its 2008 collapse.

The lawsuit, filed on Monday in U.S. District Court in
Manhattan, says Barclays knew the fee would force SemGroup to
increase its debt to pay the bank at a time it had little
liquidity. The liquidity crisis contributed to SemGroup’s
decision to file for bankruptcy in July 2008.

By Matt Daily and Caroline Humer

(Reuters) – Patriot Coal Corp filed for bankruptcy on Monday, the first U.S. coal producer to seek court protection since prices began to plummet as electricity producers turned to cheaper natural gas.

The company and nearly 100 affiliates were part of the Chapter 11 filing in the U.S. bankruptcy court in Manhattan. Patriot said it had $3.57 billion of assets and $3.07 billion of debts, and has arranged for $802 million of financing to help it continue mining and shipments during the reorganization.

By Caroline Humer

(Reuters) – Arthur Gonzalez, the former chief bankruptcy judge in Manhattan, was named the independent examiner to investigate details of the bankruptcy of home lender Residential Capital LLC, according to a court filing made on Tuesday.

Berkshire Hathaway (BRKa.N: Quote, Profile, Research, Stock Buzz), which is seeking to buy two of ResCap’s loan businesses, asked the Manhattan Federal bankruptcy court in June to appoint an examiner to look into pre-bankruptcy financial transactions between ResCap and its parent company, Ally Financial (GKM.N: Quote, Profile, Research, Stock Buzz). Berkshire had said the transactions were “potentially improper” and wanted an examiner to evaluate them.

NEW YORK, June 18 (Reuters) – A U.S. bankruptcy judge said
on Monday 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.

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 for about $4 billion to two buyers: Nationstar
Mortgage Holdings and Ally.

NEW YORK, June 18 (Reuters) – A U.S. bankruptcy judge said
on Monday 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.

Judge Martin Glenn said at a court hearing that “given the
facts and circumstances of this case, the court concludes that
appointment of an examiner is required and appropriate.”

NEW YORK, June 12 (Reuters) – Residential Capital LLC
received another round of court approvals on Tuesday
that will enable it to operate in bankruptcy, while competing
bidders stepped in for its mortgage loan and servicing
businesses.

At a hearing in U.S. Bankruptcy Court in Manhattan, Judge
Martin Glenn gave final approval to ResCap to allow it to
continue paying employees and using its cash to pay other bills.

June 5 (Reuters) – Barclays Plc is entitled to
recover roughly $1.8 billion of disputed assets and interest
related to Lehman Brothers Holdings Inc’s bankruptcy, a U.S.
federal judge said, reversing a decision by a federal bankruptcy
judge.

Tuesday’s decision by U.S. District Judge Katherine Forrest
in Manhattan is a setback for James Giddens, the trustee of
Lehman’s brokerage unit Lehman Brothers Inc, because it may
reduce the amounts available for creditors.