As Court Clears WaMu's Motions, $5B Question Looms

Law360, New York (October 3, 2008, 12:00 AM EDT) -- As Washington Mutual Inc.'s historic bankruptcy got underway, a federal judge approved a couple of first day motions at a hearing Friday, but the debtors' concerns over the $5 billion it deposited persist.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware signed off on the joint administration of the Washington Mutual and WMI Investment Corp. bankruptcies and extended the filing deadline for the list of creditors to Oct. 8th.

The hearing was reportedly dominated by Washington Mutual’s concerns over $5...
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