People's Choice Settles WaMu Claim For $2.6M

Law360, New York (November 19, 2008, 12:00 AM EST) -- A bankruptcy judge has approved a $2.6 million compromise settlement between the liquidating trusts of bankrupt People's Choice Home Loans Inc. and Washington Mutual Inc.

The judge's order, issued Tuesday in the U.S. Bankruptcy Court for the Central District of California, also approved a smaller compromise settlement of $250,000 between the reorganizing mortgage lender and Credit Suisse First Boston Mortgage Capital LLC and DLJ Mortgage Capital Inc.

According to the motion to approve the settlements, filed in late October by lawyers for the debtors and supported...
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