WaMu Settles $4B Dispute With JPMorgan: Report

Law360, New York (March 12, 2010, 6:59 PM EST) -- Washington Mutual Inc. has reportedly reached a settlement that will allow it to claim $4 billion in deposits that were also claimed by JPMorgan Chase & Co. and the Federal Deposit Insurance Corp., which instead will receive shares of expected WaMu tax refunds.

WaMu, which is currently in bankruptcy, will give about 70 percent of an expected $3 billion tax refund to JPMorgan and 60 percent of an expected $2.6 billion refund to the FDIC, Reuters reported Friday.

WaMu expects to file a reorganization plan with...
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