WaMu Contests Shareholders' Appeal Of Ch. 11 Deal

Law360, New York (February 2, 2011, 7:14 PM EST) -- Washington Mutual Inc. has objected to a shareholder group’s bid to appeal a bankruptcy court order sanctioning the $10 billion global settlement central to the defunct bank’s reorganization plan, saying any appeal must wait until the plan is confirmed.

Judge Mary F. Walrath’s order may have approved the settlement — among the debtors, the Federal Deposit Insurance Corp. and JPMorgan Chase & Co. — but it also denied confirmation of the plan, delaying the settlement from taking effect and resulting in no harm to the shareholders...
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