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Hedge Funds Object To Probe Request In WaMu Ch. 11

Law360 (February 1, 2011, 7:43 PM EST) -- Four hedge funds are blasting a motion by equity security holders in the Chapter 11 bankruptcy of Washington Mutual Inc. to investigate allegations that they engaged in insider trading.

In separate objections filed Monday and Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Appaloosa Management LP, Owl Creek Asset Management LP, Centerbridge Partners LP and Aurelius Capital Management LP urged the court to deny the request that one fund described as “a last ditch effort to gain negotiating leverage in the final stages...
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