WaMu, JPMorgan, FDIC Agree To Compromise

Law360, New York (May 17, 2010, 4:52 PM EDT) -- Washington Mutual Inc., the bank's new owner JPMorgan Chase & Co. and the Federal Deposit Insurance Corp. have reached an agreement to settle several multibillion-dollar disputes that threatened to hold up WaMu's bankruptcy.

After months of litigation, the three sides have concluded that it is in their best interests to resolve the disputes, according to a revised disclosure statement filed Monday in U.S. Bankruptcy Court for the District of Delaware.

WaMu had put forward a global settlement agreement that would encompass not just JPMorgan and the...
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