WaMu Fights Investors Over $337M In Asset Claims

Law360, Wilmington (September 12, 2011, 7:37 PM EDT) -- Washington Mutual Inc. squared off in Delaware bankruptcy court Monday with a class of investors challenging the company's treatment of certain securities as equity rather than debt in its reorganization plan, with $337 million hanging in the balance.

The investors, led by hedge fund Nantahala Capital Partners LP, lodged an adversary class action against the bankrupt holding company in 2010, crying foul at WMI’s attempt to transfer the litigation recoveries upon which the securities known as litigation tracking warrants are based to JPMorgan Chase Bank NA...
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.