WaMu, JPMorgan Settle With Insurers

Law360, New York (January 6, 2010, 12:57 PM EST) -- Bankrupt Washington Mutual Inc. is seeking court approval of two settlements that would allow JPMorgan Chase Bank NA, which now owns WaMu's assets, to assume liability for WaMu's obligations under insurance policies it held with Old Republic Insurance Co. and Zurich American Insurance Co.

In a motion filed Monday in the U.S. Bankruptcy Court for the District of Delaware, WaMu asked the court to approve the settlements, reached in December by WaMu, JPMorgan and the insurers.

Old Republic and Zurich provided workers' compensation, employers' liability, commercial...
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