Tricadia Seeks To Preserve $17B Tax Claim For WaMu

Law360, New York (November 23, 2010, 7:54 PM EST) -- Tricadia Capital Management LLC received bankruptcy court approval Tuesday to restrict the trading of certain guarantee claims against Washington Mutual Inc., in an effort to preserve a potential $17 billion tax windfall for WaMu’s estates if its reorganization plan is not confirmed.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware signed off on the notice and hearing procedures proposed by Tricadia, saying the motion did not impose a significant burden on the debtors.

Tricadia holds a majority of $68 million...
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