We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Court Grants WaMu's Request For Trade Restrictions

Law360 (November 7, 2008, 12:00 AM EST) -- Overriding objections from JPMorgan Chase & Co. and the Federal Deposit Insurance Corp., the judge overseeing Washington Mutual Inc.'s bankruptcy has approved WaMu's request to restrict equity trading of its stock in order to protect what could amount to billions of dollars in tax breaks.

The interim order, signed by U.S. Bankruptcy Judge Mary F. Walrath on Friday in the District of Delaware, applies to “substantial equity holders” who own at least 4.75 percent of outstanding shares of WaMu stock.

According to WMI, the holding company...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.