WaMu Wins 2 More Weeks For Ch. 11 Talks

Law360, Wilmington (November 7, 2011, 2:21 PM EST) -- A Delaware bankruptcy judge on Monday gave Washington Mutual Inc. two more weeks to negotiate changes to its reorganization plan in mediation with shareholders and creditors, expressing hope for a settlement to finally resolve the largest bank failure in U.S. history.

Brian Rosen of Weil Gotshal & Manges LLP, an attorney for Washington Mutual, described the mediation — conducted by U.S. Bankruptcy Judge Raymond Lyons — as fruitful and positive at the hearing, but said additional time was needed to see whether a settlement was possible...
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