Settlement OK'd In Dispute Over WaMu Savings Plan

Law360, New York (July 29, 2009, 4:53 PM EDT) -- Bankrupt holding company Washington Mutual Inc. and the buyer of its banking operations, JPMorgan Chase Bank NA, have won approval for a settlement in a dispute over a Washington Mutual Bank employee retirement savings plan.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Tuesday approved an agreement transferring sponsorship of the WaMu employees' 401(a) plan to JPMorgan, resolving a dispute between the parties over the rightful owner.

Under the agreement, JPMorgan will indemnify the debtors for certain claims arising...
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