DC Circ. Wary Of WaMu Noteholders' Bid To Join $10B Fight

Law360, Washington (April 12, 2013, 6:59 PM EDT) -- A D.C. Circuit panel on Friday voiced concern that allowing a group of Washington Mutual Bank NA noteholders to intervene in Deutsche Bank AG's $10 billion suit over WaMu's allegedly shoddy mortgages could open the floodgates for an overwhelming amount of intervenors in similar suits.

Although the noteholders claim a decision in Deutsche Bank's $10 billion suit against the Federal Deposit Insurance Corp. and JPMorgan Chase Bank NA could jeopardize payment on their $1.9 billion in WaMu notes, the appellate panel said the noteholders hadn't shown...
To view the full article, register now.