WaMu Making Progress In Mediation On Ch. 11 Plan: Atty

Law360, Wilmington (December 8, 2011, 5:12 PM EST) -- Washington Mutual Inc. is making headway in mediation with creditors and shareholders on the issues that sunk its reorganization plan, and could mint a deal by Monday allowing for a third try at exiting bankruptcy, an attorney for the holding company said Thursday.

Brian Rosen of Weil Gotshal & Manges LLP told the Delaware bankruptcy court that the parties had been meeting nonstop to forge a settlement that would set WMI on course for a late February emergence from Chapter 11.

On Sept. 13, U.S. Bankruptcy...
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