WaMu Noteholders Can't Join $10B Fight, DC Circ. Says

Law360, New York (May 21, 2013, 4:37 PM EDT) -- The D.C. Circuit on Tuesday refused to let a group of Washington Mutual Bank noteholders enter Deutsche Bank AG's $10 billion suit over WaMu's poor-quality mortgages, ruling that their interest in the case was too conditional to justify intervening and that their inclusion could open the floodgates for other creditors.

The three-judge panel shot down the group's argument that its interests in Deutsche Bank's lawsuit against Federal Deposit Insurance Corp. and JPMorgan Chase Bank NA weren't well represented. The noteholders had argued that they couldn't count...
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