WaMu Doesn't Owe Cash To Warrant Holders: Judge

Law360, New York (January 4, 2012, 8:49 PM EST) -- A Delaware bankruptcy judge on Tuesday ruled in favor of Washington Mutual Inc. in a dispute over whether certain warrant documents entitled their holders to cash in the bank's bankruptcy proceeding, saying the holders were entitled instead to much less valuable stock in the decimated bank.

U.S. Bankruptcy Judge Mary F. Walrath agreed with WaMu that the litigation tracking warrants — held by a group of individuals and tied to the outcome of a longstanding legal battle — did not entitle their holders to be treated...
To view the full article, register now.