WaMu Disclosures Key To Ch. 11 Vote

Law360, New York (March 21, 2011, 8:03 PM EDT) -- Washington Mutual Inc. on Monday won bankruptcy court approval in Delaware to solicit creditor votes on its amended reorganization plan, provided the defunct bank makes additional disclosures in response to creditor concerns.

At a hearing in the U.S. Bankruptcy Court for the District of Delaware, Judge Mary F. Walrath said that she would sign off on WMI’s disclosure statement after changes were made to show creditors a range of scenarios that could result if a lower interest rate was applied to claims or if the reorganized...
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