Shareholder Appeal Of $10B WaMu Deal Untimely: Judge

Law360, New York (February 9, 2011, 7:54 PM EST) -- A bankruptcy judge has denied as premature a Washington Mutual Inc. shareholder group’s bid to ask the Third Circuit to weigh in on a bankruptcy court order greenlighting the $10 billion settlement central to the defunct bank’s reorganization plan.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Tuesday declined to certify to the U.S. Court of Appeals for the Third Circuit her earlier order deeming the global settlement fair and reasonable, opting to retain jurisdiction over the matter....
To view the full article, register now.