Deals
WaMu Shareholders Settle, Agree to Support $7 Billion Plan
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Washington Mutual Inc., the former owner of the biggest bank to fail, settled a battle between shareholders and noteholders that was blocking a bankruptcy-exit plan valued at more $7 billion, lawyers said.
The agreement, brokered by a court-appointed mediator, calls for noteholders to contribute $75 million to the only unit of WaMu that will exit bankruptcy as well as loan the entity $125 million, Brian Rosen, the company’s lead bankruptcy attorney, said yesterday in an interview.