United States Bankruptcy Court, S.D. New York August 28, 2012, No. 12-12020 (MG) (In re Residential Capital, LLC)

MEMORANDUM OPINION AND ORDER DENYING DEBTORS’ MOTION FOR APPROVAL OF A KEY EMPLOYEE INCENTIVE PLAN

MARTIN GLENN, Bankruptcy Judge.

Pending before the Court is the motion (the “Motion”) of Residential Capital, LLC and its affiliated debtors (the “Debtors” or “ResCap”) for authorization to implement a key employee incentive plan (the “KEIP” or the “Plan”) for certain key insiders of the Debtors