Washington Mutual judge can't rule on plan until after Dec. 31

By Caroline Salls

Pittsburgh, Dec. 20 - Washington Mutual, Inc.'s bankruptcy judge will not be able to issue an opinion on confirmation of the company's plan of reorganization until after Dec. 31, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Judge Mary F. Walrath said a related multi-billion dollar global settlement agreement requires approval by Dec. 31.

However, Walrath said multiple objections to Washington Mutual's plan remain unresolved.

The judge asked the parties to let her know by Dec. 29 whether they are willing to extend the settlement approval deadline to Jan. 31.

Washington Mutual, a Seattle-based savings and loan holding company, filed for Chapter 11 bankruptcy on Sept. 26, 2008. Its Chapter 11 case number is 08-12229.

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