WaMu Must Pay $522K Sanctions Over $5M Contingency Fee

Law360 (May 16, 2018, 4:13 PM EDT) -- The liquidating trust cleaning up Washington Mutual's estate after its financial crisis-era collapse will pay nearly $522,000 in fees to tax adviser Grant Thornton LLP as sanctions after a Delaware bankruptcy judge found Tuesday that WaMu wrongly withheld a $5 million contingency award.

U.S. Bankruptcy Judge Mary Walrath approved the agreement for Washington Mutual Inc. Liquidating Trust to pay the legal bills that Grant Thornton ran up as it tried to get a $5 million contingency fee related to recoveries from California tax authorities. WMILT had...
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