WaMu Ch. 11 Plan Lets Nondebtors Off Easy: Ore. Agency

Law360, New York (February 3, 2012, 2:08 PM EST) -- The Oregon Department of Revenue on Thursday filed an objection in Delaware bankruptcy court to the confirmation of a Washington Mutual Inc. Chapter 11 plan, arguing that the plan improperly releases nondebtors.

The DOR, which is in a tax dispute with the debtor and JPMorgan Chase & Co. over its $27.3 million priority claim and $2.1 million unsecured nonpriority claim against WaMu, says the plan's release provisions unfairly let nondebtor WaMu affiliates off the hook and that it improperly allows the debtors to avoid paying interest...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Washington Mutual, Inc.


Case Number

1:08-bk-12229

Court

Delaware

Nature of Suit

Date Filed

September 26, 2008

Law Firms

Companies

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.