Court Grants WaMu's Request For Trade Restrictions

Law360, New York (November 7, 2008, 12:00 AM EST) -- Overriding objections from JPMorgan Chase & Co. and the Federal Deposit Insurance Corp., the judge overseeing Washington Mutual Inc.'s bankruptcy has approved WaMu's request to restrict equity trading of its stock in order to protect what could amount to billions of dollars in tax breaks.

The interim order, signed by U.S. Bankruptcy Judge Mary F. Walrath on Friday in the District of Delaware, applies to “substantial equity holders” who own at least 4.75 percent of outstanding shares of WaMu stock.

According to WMI, the holding company...
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