Economy

mrdmk

(2,943 posts)

62. WaMu settles dispute, eyes bankruptcy exit

Tue Dec 13, 2011, 01:29 PM

Dec 2011

(Reuters) - Washington Mutual Inc, the biggest bank to fail in U.S. history, said it reached a settlement in a dispute between shareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings.

WaMu got a respite late on Monday when it said in a court filing that the shareholders represented by an equity committee would drop legal claims against settlement noteholders.

"The Equity Committee and its advisors are pleased with the result and look forward to and support the swift confirmation of the plan," said Michael Willingham, chairman of the Equity Committee appointed in the Chapter 11 proceedings.

Washington Mutual has languished in Chapter 11 bankruptcy since regulators seized its savings and loan in September 2008.

link: http://finance.yahoo.com/news/wamu-settles-dispute-eyes-bankruptcy-072428889.html

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

88 replies

= new reply since forum marked as read

Highlight:

STOCK MARKET WATCH, Tuesday, December 13, 2011 [View all] Pale Blue Dot Dec 2011 OP

Today's Reports Pale Blue Dot Dec 2011 #1

Retail Sales increased 0.2% in November Ghost Dog Dec 2011 #30

Big miss in retail Po_d Mainiac Dec 2011 #31

Federal Open Market Committee Dec. 13 Policy Meeting Statement (Full Text) Ghost Dog Dec 2011 #82

Oil hovers below $98 amid Europe economy concerns Pale Blue Dot Dec 2011 #2

Race Around the World: The 20-Year Contest for Oil xchrom Dec 2011 #20

Gas buddy dot come says the average price of gas in US is now 3.28. dixiegrrrrl Dec 2011 #51

$3.07/gallon hamerfan Dec 2011 #66

U.S. stock futures gain; Fed, data in spotlight Pale Blue Dot Dec 2011 #3

Good Morning DemReadingDU Dec 2011 #4

morning xchrom Dec 2011 #5

europe: Britain is ruled by the banks, for the banks xchrom Dec 2011 #6

Debt repayment is driving the EU back to recession xchrom Dec 2011 #7

EU Banks Selling ‘Crown Jewels’ for Cash xchrom Dec 2011 #10

I shall have to cry a bucket of tears Demeter Dec 2011 #15

i knew if you were around i would get something pithy from you w/ this xchrom Dec 2011 #18

So glad to provide amusement. Demeter Dec 2011 #25

oh that tansy... xchrom Dec 2011 #28

Watch what you say around here. Tansy_Gold Dec 2011 #34

i'm not good enough to xchrom Dec 2011 #39

There is nothing wrong with bankers taking a haircut on this one.... AnneD Dec 2011 #47

OMG -- a brazillian!?!?! xchrom Dec 2011 #49

AnneD. Always thinking about the same Ghost Dog Dec 2011 #50

I was thinking about everyone getting a haircut... AnneD Dec 2011 #69

Yeah. Censorship tends to work like that, I've observed. Ghost Dog Dec 2011 #73

I never did like him Demeter Dec 2011 #84

Before you judge him too harshly...... AnneD Dec 2011 #88

Stocks Rise in Europe on Debt Sales as U.S. Futures Gain; Sugar Advances xchrom Dec 2011 #11

London banks stunned by Britain's EU veto Ghost Dog Dec 2011 #21

Should read "London, the former home" Po_d Mainiac Dec 2011 #35

Hablo español, Ghost Dog Dec 2011 #37

Rememeber that London made such a strong deliberate effort to become a huge banking center dixiegrrrrl Dec 2011 #54

Latter-day London was built on the back of Empire, Ghost Dog Dec 2011 #63

middle east: Qatar’s Shares Retreat Most in Three Week as Europe Rating-Cut Concerns xchrom Dec 2011 #8

present and accounted for Tansy_Gold Dec 2011 #9

wish I could say the same Demeter Dec 2011 #17

Sort of, here too. Hey, yesterday was great for my bottom line! Ghost Dog Dec 2011 #27

Sterling is good....the 95% stuff n/t Po_d Mainiac Dec 2011 #36

If you mean, like, Sterling Silver or Gold, etc... Ghost Dog Dec 2011 #48

Sorry to hear that, GD Demeter Dec 2011 #55

Time is always of the essence. Ghost Dog Dec 2011 #60

asia: Japanese Stocks Fall After Ratings Firms Say EU Summit Produced Little xchrom Dec 2011 #12

Asian Stocks Fall on Concern Europe Solution Distant, Intel Forecast Cut xchrom Dec 2011 #13

Meet the Financial Wizards Working With Occupy Wall Street xchrom Dec 2011 #14

Error Tansy_Gold Dec 2011 #24

good catch! xchrom Dec 2011 #26

Error or Freudian slip? Ruby the Liberal Dec 2011 #42

Dude! Hugin Dec 2011 #16

The way it is... Hugin Dec 2011 #40

I'm surprised you remembered my night emergency landing procedures! Fuddnik Dec 2011 #41

I always remember good advice. Hugin Dec 2011 #43

Thanks for that, Hugin. Ghost Dog Dec 2011 #45

First and Foremost, Thank-You for your work and well thought-out plan! mrdmk Dec 2011 #53

I truly think you did the best anyone could, under the circumstances Demeter Dec 2011 #56

I have been thinking about our placement...a lot.... AnneD Dec 2011 #57

aha..so THAT is how it went down. I knew not, and really appreciate seeing the bigger picture. dixiegrrrrl Dec 2011 #58

There are always so many lines to read between, dixiegrrrrl. Ghost Dog Dec 2011 #74

grrrr indeed dixiegrrrrl Dec 2011 #76

grrrr indeed. Ghost Dog Dec 2011 #80

This is about as Meta as I'm going to get here, but, I thought it needed to be said. Hugin Dec 2011 #79

Heh heh. Where do I have to go to copyright the term "Dumbphone"? Ghost Dog Dec 2011 #81

whatever opinions I hold about the placement, they are not directed at you bread_and_roses Dec 2011 #70

Wolf Richter: Germany’s Last-Ditch Compromise, At A Price Demeter Dec 2011 #19

Sarkozy: “The Risk That Europe Will Explode” Demeter Dec 2011 #23

Can you please edit your post PBD? Tansy_Gold Dec 2011 #22

Privileged Host Hugin could perhaps look into that for you? Ghost Dog Dec 2011 #52

No, that is not among my dixie given super powers. Hugin Dec 2011 #87

I'm thinking DU3 might be a system memory hog. Hotler Dec 2011 #68

Ah, here I'd been thinking the latest Firefox updates were eating memory Ghost Dog Dec 2011 #77

A Romance With Risk That Brought On a Panic Demeter Dec 2011 #29

I wonder if he has a body guard/guards? n/t Hotler Dec 2011 #67

Yes, n/t westerebus Dec 2011 #83

Tis indeed a Duzy... dixiegrrrrl Dec 2011 #78

Best Buy's lower earnings raise holiday worries Fuddnik Dec 2011 #32

and 'Black Friday' was the entire weekend DemReadingDU Dec 2011 #38

nice toon! Roland99 Dec 2011 #33

EUR Tumbles To Lows On Report Merkel Rejects Raising Upper Limit On ESM Bailout Mechanism Roland99 Dec 2011 #44

Fucking hell (sorry). Ghost Dog Dec 2011 #46

Who is Essential? Insurers or Consumers? By Wendell Potter (GRAMMAR CRINGE) Demeter Dec 2011 #59

Mr. President, Stop Protecting Bankers From State Law Enforcement By Richard (RJ) Eskow Demeter Dec 2011 #61

WaMu settles dispute, eyes bankruptcy exit mrdmk Dec 2011 #62

Elder Poverty, GOP Sucker Punch - NOW Will Democrats Defend Social Security? By Richard (RJ) Eskow Demeter Dec 2011 #64

Solar Power Much Cheaper to Produce Than Most Analysts Realize, Study Finds By Joe Romm NO DUH! Demeter Dec 2011 #65

Just want to re-post bread_and_roses Dec 2011 #71

k&r n/t Hotler Dec 2011 #72

EURUSD barely over 1.30....1.29 today? Roland99 Dec 2011 #75

I'm almost satisfied Turbineguy Dec 2011 #85

Like jobs in America sarcasmo Dec 2011 #86