WaMu Wants Equity Committee Disbanded

Law360, New York (January 12, 2010, 2:00 PM EST) -- The bankrupt Washington Mutual Inc. has moved to disband an equity shareholders committee, saying such a committee is unnecessary because its members won't be recovering any assets.

The motion came on Monday, the same day the office of the U.S. trustee overseeing the case in the U.S. Bankruptcy Court for the District of Delaware appointed the committee, which includes Esopus Creek Value LLC and stakeholders Kenneth I. Feldman, Saul Sutton, Dorothea Barr, Joyce M. Presnall, Tyson Matthews and Michael Willingham.

WaMu said the committee would “disrupt”...
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