WaMu Creditors Balk At Proposed LTW Holders Committee

Law360, New York (July 29, 2011, 6:45 PM EDT) -- Unsecured creditors of Washington Mutual Inc. argued Thursday in Delaware bankruptcy court that a group of investors with interests in pending WaMu litigation shouldn't be granted official committee status in order for the bank to fund their adversary proceeding against its estates.

The official committee of unsecured creditors objected to a motion from seven investors that the bankruptcy court appoint an official committee to represent the holders of shares in a Dime Bancorp Inc. lawsuit WaMu acquired when it purchased the company.

Investors in litigation tracking...
To view the full article, register now.