WaMu Files Ch. 11 Plan Without FDIC's Blessing

Law360, New York (March 29, 2010, 2:38 PM EDT) -- Washington Mutual Inc. has filed a Chapter 11 reorganization plan that would allow it to claim $4 billion in deposits that JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. also claimed, but the FDIC has yet to sign on to the proposal.

WaMu filed its Chapter 11 plan of reorganization Friday in the U.S. Bankruptcy Court for the District of Delaware. The plan included a proposed global settlement agreement among WaMu, JPMorgan and the FDIC that would allow the bank to distribute the $4...
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