Implications Of In Re Washington Mutual Inc.

Law360, New York (December 23, 2009, 2:24 PM EST) -- In a recent decision, In re Washington Mutual Inc., et al., 2009 WL 4363539 (Bankr. D.Del. 2009), the Bankruptcy Court for the District of Delaware held that a group of noteholders was subject to the disclosure requirements of Rule 2019 of the Federal Rules of Bankruptcy Procedure because it was acting as an ad hoc committee representing more than one creditor.

The court also stated, in dicta, that such a group may owe “some obligation” to other members of the same class of creditors even though...
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