Former WaMu Execs Balk At Plan For D&O Claims

Law360, New York (February 22, 2012, 6:49 PM EST) -- A number of former Washington Mutual Inc. executives objected Wednesday to the bankrupt bank's refusal to set aside cash reserves to cover their existing and potential indemnification claims.

Former WaMu CEO Kerry K. Killinger, Chief Financial Officer Thomas Casey, President Stephen Rotella and a host of others filed motions opposing the debtors' request to estimate their potential director and officer indemnification claims at zero dollars. The Delaware bankruptcy court will hold a hearing on the estimation debate Friday.

"Estimation is not the debtors' goal," Rotella said...
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