WMI, Investors Can't Find Common Ground On Ch. 11 Plan

Law360, New York (June 15, 2011, 9:56 PM EDT) -- Talks between Washington Mutual Inc. and shareholders to find a mutually acceptable reorganization plan reportedly broke down Wednesday, a potential headache for the presiding Delaware bankruptcy judge.

The official committee of shareholders on Wednesday resumed a probe into alleged insider trading by four hedge funds involved in the case, an investigation the committee postponed while it tried to reach a final settlement that would allow WMI's reorganization to go forward unmolested.

Confidential sources told the Wall Street Journal about the talks' failure. Attorneys for the parties...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.