WaMu Eyes Quick Turnaround On Amended Ch. 11 Plan

Law360, New York (January 20, 2011, 7:32 PM EST) -- Attorneys for Washington Mutual Inc. on Thursday laid out an expedited course to modify the company’s recently rejected Chapter 11 plan, saying the minor changes the judge requested do not justify extensive discovery for factions opposing the plan.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, WMI won out over dissident shareholders and bondholders who argued that approving the amended plan would require months of discovery and a completely new record.

“We’re not going to have this estate further dissipated by...
To view the full article, register now.