Ted Weschler, a Berkshire investment manager, said his company sold its holdings of more than $500 million of unsecured ResCap bonds on June 5 and 6, according to papers filed Thursday in U.S. Bankruptcy Court in Manhattan.
Weschler did not disclose sale prices. Berkshire had held the bonds for several years.
The sales followed Weschler's June 4 request for the court to appoint an independent examiner to investigate "potentially improper" transactions, in which ResCap moved large amounts of assets to its parent, Ally Financial Inc.
Continue reading here.
Also check out:
- Warren Buffett Undervalued Stocks
- Warren Buffett Top Growth Companies
- Warren Buffett High Yield stocks, and
- Stocks that Warren Buffett keeps buying