WaMu to meet with shareholders on bankruptcy

Posted June 3, 2010 at 1:42 p.m.

Associated Press | Washington Mutual Inc. has agreed to meet with
shareholders seeking information in the company’s Chapter 11 bankruptcy
after a judge threatened to reconsider her decision denying the
appointment of an independent examiner in the case.

With renewed talk of an examiner, a WaMu attorney on Thursday withdrew a
motion to establish discovery procedures in the case and said he would
be willing to meet with parties wanting information.


The proposal came after an attorney for shareholders said Washington Mutual is stonewalling efforts to obtain information about the largest bank failure in U.S. history and a proposed settlement of resulting lawsuits.

The judge told attorneys to meet and try to resolve their differences before a June 17 hearing.

 

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