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

Wash. Mutual Sues FDIC For Billions Over Takeover

Law360 (March 23, 2009, 12:00 AM EDT) -- Bankrupt Washington Mutual Inc. has reportedly sued the Federal Deposit Insurance Corp. to recover almost $14 billion in damages related to the government's $1.9 billion sale of its beleaguered banking operations to JPMorgan Chase & Co. in September.

In a complaint filed Friday in the U.S. District Court for the District of Columbia, WMI alleges that as the former parent company of Washington Mutual Bank, it is entitled to recover up to $6.5 billion in capital contributions it made to the thrift between December 2007 and...
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.