Creditors, Trustee Object To WaMu Asset-Sale Plan

Law360 (December 12, 2008, 12:00 AM EST) -- Unsecured creditors and the U.S. trustee monitoring Washington Mutual Inc.'s Chapter 11 proceedings filed limited objections Thursday to the failed savings and loan's proposal to sell off some of its investment assets ahead of a hearing scheduled for next week.

Washington Mutual also is facing challenges to its motion to settle vendor contracts from IBM Corp. and the U.S. Trustee's Office, which filed objections Thursday on that issue, as well. All four objections were filed in U.S. Bankruptcy Court for the District of Delaware.

A hearing...
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