Deals
WaMu Fight Over Bankruptcy Exit, Insider Trading Extended
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Washington Mutual Inc., former owner of the biggest U.S. bank to fail, may need four more days of testimony before a judge can rule on claims of insider trading that threaten to disrupt the company’s plan to exit bankruptcy, lawyers said.
U.S. Bankruptcy Judge Mary Walrath agreed to end court early today and start again July 18 so the lead lawyer defending hedge fund Aurelius Capital Management LP from the insider trading allegations can attend. That delay and the slow pace of questioning witnesses means the hearing may stretch into July 21, WaMu bankruptcy attorney Brian Rosen said in court today.