WaMu creditors committee objects to examiner appointment request

By Jennifer Lanning Drey

Portland, Ore., June 14 - Washington Mutual, Inc.'s official committee of unsecured creditors objected to the company's official committee of equity security holders' motion to appoint an examiner for Washington Mutual's Chapter 11 bankruptcy case.

The objection was raised in a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The creditors committee said the "facts have not changed" since the equity security holders' original motion for an examiner was denied on May 5.

A Washington Mutual noteholders group holding $2.3 billion of the company's securities also objected to the examiner motion.

The noteholders said further delay would result in a multi-plan process with different stakeholders filing competing plans to stake out their own conflicting litigation positions.

A hearing is scheduled for June 17.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.