Judge Lets WaMu Creditors Bring Avoidance Cases

Law360, New York (September 14, 2010, 7:05 PM EDT) -- A bankruptcy judge has signed off on an agreement Washington Mutual Inc. reached with its official unsecured creditors committee that lets the creditors pursue avoidance actions against more than 200 firms and individuals, including the company’s former CEO.

Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware on Monday granted the parties’ stipulation to allow the committee, on behalf of the estate, to attempt to recoup payments the bank made right before it filed for bankruptcy.

The list of individuals includes Alan...
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